Global cross-border tourism is thriving and travellers intend to increase budgets for their next trip by an average of five per cent with some holiday makers even suggesting that they would more than double what they spent on their previous trip, says a new report.
According to Visa's latest 'Global Travel Intentions Study 2013', its regular barometer of travel trends indicates budgets are no longer among the top three reasons behind why travellers 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 travellers from 25 countries, the average global travel budget of USD 2,390 per trip is set to increase to USD 2,501. Top spenders abroad are the Saudi Arabians, spending an average of USD 6,666 per trip, while Australian (USD 4,118) and Chinese travellers (USD 3,824) were not far behind.
Future travel budget increases are especially high amongst Asian markets with a predicted increase of 46 per cent - travellers from Singapore, Thailand and Hong Kong all plan to at least double the budget of their last trip in the future, said the report.
"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.
"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 traveller and the industry at large.
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 per cent in 2012 to reach 1.035 billion.
Visa's study revealed the United States ranked as the most popular destination choice for global travellers, both for trips taken in the past two years (17 per cent) and for intended travel in 2013 (10 per cent).
Other top destinations in 2011 and 2012 included the United Kingdom (12 per cent), France (12 per cent) and China, Singapore, Thailand and Hong Kong (all 10 per cent).
Looking ahead, regional travel is set to increase with Egypt, Turkey and France emerging on the latest list of most preferred destinations for future travel for residents in Middle East & Africa.
