Allianz Global Assistance’s seventh annual Vacation Confidence Study reports on the paradigm shift of blending business and vacations
Cambridge ON, Feb. 29, 2024 – Canadian professionals aged 18-34 are leading the rise in the bizcation trend with a growing desire to blend remote work and vacations. Leading travel insurance provider Allianz Global Assistance’s (Allianz) Vacation Confidence Study* revealed that almost half (47 per cent) of young professionals plan to work remotely while travelling in 2024.
Bizcations are an emerging trend in the workplace, where employees can work and travel simultaneously without taking time off. It can also include tacking on a few days before or after a business trip.
The increasing prevalence of remote work options has empowered young professionals to work virtually anywhere. Allianz’s Vacation Confidence Study found that 17 per cent of Canadians aged 18-34 say that the stress and time of planning to take time off work is a considerable barrier to them planning a vacation this year. This demographic’s enthusiasm for bizcations represents a paradigm shift in how work and travel are integrated, opening up new opportunities to enjoy a healthier work-life balance.
The bizcation phenomenon has reshaped the way individuals approach work and travel. Allianz’s Study found that roughly a third of those taking a bizcation this year plan to be away for a considerable amount of time – about three weeks or longer.
“We know that bizcationers are travelling more frequently throughout the year and need reliable travel protection,” said Dan Keon, VP of Marketing and Insights for Allianz. “Allianz is committed to supporting the evolving needs of travellers in the dynamic landscape of remote work and blended travel experiences. We ensure that professionals can embark on bizcations with confidence, knowing that they are covered for every aspect of their journey.”
Allianz’s Vacation Confidence Study key findings:
- Many Canadians will tie-in a vacation with work responsibilities either by working remotely from a vacation destination (30 per cent) or by adding vacation time to a business trip (24 per cent)
- Canadians with children (43 per cent) are also likely to blend work and vacation in the same trip
- There has been a shift in Canadians’ destination preferences – beyond Canada, Mexico/Caribbean (24 per cent) and the US (21 per cent) are the most popular vacation destinations this year
For more information about travel insurance solutions for your travelling clients, contact Allianz Global Assistance.
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*The Vacation Confidence Study was conducted online by Ipsos in November 2023, among a sample of n = 2,000 Canadian adults. The results are considered accurate to within +/- 2.5 percentage points, 19 times out of 20.