Budgets are no longer among the top three reasons why travellers choose their holiday destination. The pull of attractions, scenery and rich culture is instead a stronger reason for travel. This is according to Visa’s latest Global Travel Intentions Study 2013, which surveyed 12,631 travellers from 25 countries.
According to the study, the average global travel budget of US$2,390 per trip is set to increase to US$2,501. It noted that future travel budget increases were especially high among Asian markets, with a predicted increase of 46%.
“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 mind-set, 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 this change is key to facilitating collaboration, encouraging informed engagement, and promoting growth across the travel industry,” he continued.
The report stated that increasing ease and availability of travel options was fuelling the tourism boom. This is particularly prominent in the airline industry, where 85%of travellers prefer to fly to their destinations. Of this figure, most (71%) chose to fly economy class while, perhaps surprisingly, only 16% chose budget airlines.
The results of the study also show that today’s traveller is seasoned, with 79% travelling in the past two years, and taking between one and two trips per year. Some 80% plan their holidays in advance, taking an average of 10 weeks to organise the trip. Spending time with family and friends was cited as the most popular (38%) reason for a holiday. These trips were more likely to be organised independently (42%) and last an average of 10 nights.
Date: 3 May 2013