Relief from daily stress is now the main reason for travel, according to a recent Global Travel Interventions (GTI) survey on travel and tourism for 2017, which Visa made. However, as the study and the trip itself proves, or at least some of its agents, such as transportation and cash exchange, cause stress. Visa’s cashless solutions provide freedom of payment anywhere in the world while ensuring a competitive exchange rate for payments in local currency. Although local currency payments seem more familiar, when purchases are made abroad, they are usually accompanied by commissions due to the conversion. At the same time, the survey involving travelers from 27 countries revealed trends that are expected to continue in 2018. One of these is how travels are getting faster. The world rate is now eight nights, compared to ten in 2013.
Most of them are abroad. As it turns out, people from around the world plan to make more trips – the average of the trips made reached 2.7 per year from 2.5 that were earlier – with the Americans taking the first place on the list by doing 3.2 travel on average. A new element is also that more and more travelers choose to visit multiple destinations. Japan, the United States and Australia are the top three destinations with the largest traffic, with Asian travelers largely preferring Japan and Americans to particularly love Europe, Mexico and Canada.
Americans can travel a lot, but they do not spend most. As the survey shows, travelers from Saudi Arabia are the so-called top spenders, those who spend the most money on their travels. Japan, Australia, America and Kuwait are complemented by the top five of the fascinating travelers. Lord is now in the travel industry and technology with 88% of travelers having online access when abroad. Travelers increasingly use technology to plan their trips and navigate when they arrive at their destination. In 2017, 83% of travelers used technology to plan their travel compared to 78% of travelers in 2015. The paradox of course is that although many travelers use holiday cards, the majority prefer cash for their purchases, despite the stress that causes them to carry cash.
Indicative of the above is the fact that the average traveler spends about $ 1,793 per trip per trip, but only $ 778 is cash.
One out of 10 travelers takes cash from ATM to their destination. ATM safety is a critical factor, with nearly one in five travelers calling it an obstacle to using ATM. However, travelers from Europe, the Middle East and Africa are more likely to make cash withdrawals during their holidays than travelers from other destinations. Travelers, however, are expected to spend more money in the future, with the largest increase coming from Asia.
Among consumers who spend more money globally, travelers from Australia, China, Kuwait and the United States remain optimistic about spending on their future transatlantic travel.
It is worth noting that Visa’s Global Travel Intentions study analyzes the behavior of travelers and the costs incurred during a trip around the world. A comprehensive study that monitors and analyzes international trends. Research is part of Visa’s ongoing commitment to supporting operators in their efforts to develop the travel and tourism industry. The Visa GTI survey was conducted in collaboration with the research and business intelligence organization ORC International and collected data from 15,500 interviews in 27 markets. Visa has been conducting this two-year study since 2008.
Visa Inc. is a global leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling consumers, businesses and economies to grow. Our advanced global transaction processing network, VisaNet, offers secure and reliable payments around the world and enables more than 65,000 transactions per second to be managed. The company’s priority in innovation is a catalyst for the rapid growth of trade through any device and the driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analogue to digital, Visa provides brand, products, people, network and scale to reform the future of commerce.
