Bizcations: A trend that’s not going to go away

‘Bizcation’ is another way to describe a work/holiday trip combination, and it is a growing travel industry trend now being tracked by Allianz Global Assistance. The rise of bizcations was one topic tabled during a recent travel future outlook event hosted by Allianz Global Assistance and Baxter Media in Vancouver.

“This has become more of a trend because so many of us adjusted well to working in a remote environment,” said Cheri Thompson, business development manager at Allianz Global Assistance. “These create really unique opportunities for people to continue travelling and experience different countries and cultures, while still staying connected to their jobs, to their clients and their customers,” she said.

Thompson spoke to a crowd of top Vancouver-based travel advisors and suppliers who attended the Networking Lunch and Presentation sponsored by Baxter Media and Allianz. It was held at the D/6 Lounge at the JW Marriott Parq Hotel/Douglas Hotel.

“This is an example of how we continue to survive and thrive, even despite the fact that travel is certainly different today. This trend is not going away, and it won’t be happening just in 2024. I think we will continue to see this evolve,” said Thompson.

As for travel insurance, Allianz has seen an increased need and demand for insurance policies, and an overall acknowledgement of the value of travel insurance.

“COVID has shown us that we just don’t know what’s going to happen next,” she said. “Every single day misfortunes happen, whether it’s medical, or a family emergency, or bad weather, or a job loss to prevent us from travelling as expected.”

And these emergencies can be financially devastating, said the manager, noting that clients still need reminding of the value and importance of travel insurance. “And for the most part, they get it,” she said.

In its Vacation Confidence Study, Allianz found that about 86% of people believe that travel insurance is important to have – “which is significant,” said Thompson. Not surprisingly, this skews more to international than domestic travel, given the comprehensive health care system that is available to Canadians. The study was released in the fall of 2023.

“It’s about the customer experience and their confidence in their travels,” said Thompson. “It doesn’t matter where they are travelling, we want them to feel good about their decision to travel, without worry or concern about the overall experience.”