Visa’s latest Global Travel Intentions Study
2013 has revealed that global cross-border tourism is thriving and
travelers intend to increase budgets for their next trip by an
average of 5% – with some holidaymakers even suggesting that they
would more than double what they spent on their previous trip.
Visa’s regular barometer of travel trends
indicates budgets are no longer among the top three reasons behind
why travelers choose their next holiday destination. The pull of
attractions, scenery and rich culture are instead stronger reasons
for travel.
According to the study, which surveyed 12,631
travelers from 25 countries, the average global travel budget of
US$2,390 per trip is set to increase to US$2,501. Top spenders
abroad in the past were the Saudi Arabians, spending an average of US$6,666 per trip, while Australian (US$4,118) and Chinese
travelers (US$3,824) were not far behind.
Future travel budget increases are especially high amongst Asian markets with a
predicted increase of 46% – travelers from Singapore, Thailand and Hong Kong all plan to at least double the budget of
their last trip in the future.
”Global economic woes
have been well-documented over the past few years but our Visa
Global Travel Intentions Study 2013 hints at a change in both the
financial landscape and consumer mindset, suggesting either
economic recovery or a growing appetite for larger travel budgets.
Both provide excellent news for everyone involved in the global
travel and tourism industry,” said Ross Jackson, Head of
Cross-Border in Asia Pacific, Central Europe, Middle East and
Africa at Visa. “Understanding these changes is
key for facilitating collaboration, encouraging informed
engagement, and promoting growth across the travel industry. We
have been running the Travel Intentions study since 2006 as our
contribution to increasing the collective level of information the
industry can use to make intelligent decisions to benefit the
traveler and the industry at large. Visa is committed to using the
results to identify changes and developments to better understand
the travel and tourism environment.”
United States Remains Top
Choice Destination
Attractions, scenery, and culture were
cited as the key drivers for a future trip regardless of
destination. This desire to explore new horizons was evidenced by
the latest UNWTO World Tourism Barometer, which revealed
that international tourist arrivals grew by four% in 2012
to reach 1.035 billion.
Visa’s Study revealed the United
States ranked as the most popular destination choice for global
travelers, both for trips taken in the past two years (17%)
and for intended travel in 2013 (10%). Other top
destinations in 2011 and 2012 included the United Kingdom (UK) (12%), France (12%) and China, Singapore, Thailand and
Hong Kong (all 10%).
Looking ahead, regional travel is set
to increase, especially in reflection of the growing popularity
and economic strength of Asia Pacific (APAC). 31% of global
travel is expected to be to Asia, and new APAC destinations such
as Australia (4%) and Korea (3%) are making
it on to the latest list of most preferred destinations for future
travel.
Travelers also ranked Japan (5%) and
Australia (4%) alongside the UK (5%) as the
top four intended destinations for future trips abroad.
Rise of the Asian Giant
The increasing popularity of APAC is
partially driven from within the region. Among travelers across
the four global regions (APAC; the Americas; Middle East and
Africa; Europe), respondents from APAC indicated strong intention
(77%) to travel more in the future – with residents from
nine of the region’s markets stating a higher intention to travel
than the global average.
Much of this increased travel is expected
to take place within the region, where 80% of Asian travelers have chosen to take trips in the last two years.
APAC travelers are also spending more during their trip – those
traveling within the region spent an average of US$273 per day,
higher than both the global average (US$239) and any other
region.
“The Asian markets have experienced a huge boom in
tourism over the past few years due to the continued strength of
their economies and the implementation of policies that promote
cooperation and coordination in cross-border tourism. The ease of
travel within the region, coupled with a rising middle class, has
seen a growing demand for travel among the population and we
expect this trend to continue into 2013 and beyond,” said Martin Craigs, Chief Executive Officer, Pacific Asia Travel Association
(PATA).
Increasing Ease of Travel
An increasing ease and
availability of travel options is fuelling the tourism boom. This
is particularly prominent in the airline industry where 85%
of travelers prefer to fly to their destinations despite a preference for shorter
distances. Of this figure, most (71%) chose to fly economy
class while, perhaps surprisingly, only 16% chose budget
airlines.
Profile of Today’s Global Traveler
The results
of the study paint a picture of today’s global traveler. They are
seasoned travelers, with 79% travelling in the past two
years, taking 1-2 trips per year. 80% plan their holidays
in advance, taking an average of 10 weeks to organize the trip.
Spending time with family and friends was cited as the most
popular (38%) reason for a holiday. These trips are more
likely to be organized independently (42%) and will last an
average of 10 nights. They choose hotels of four stars and above
(39%) with 69% choosing to take a trip with family
members.
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New Global Study Reveals Travel Budgets Set to Increase - ASIA Travel Tips.com
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