It would appear the recent further easing in travel restrictions across the country has encouraged many Australians to put their long awaited travel plans into action with the biggest increases in spending seen in hotels, motels, resorts, airlines, tourist attractions, camper and RV dealers and rentals, bus lines and airports.
Stephen Halmarick, Chief Economist and Head of Global Economic & Markets Research, said: “While we have seen an increase in the travel and transport spending intentions index again this month, there is still plenty of room for growth,” he said.
“Since the start of the pandemic, Australians have grown their savings to record levels. Australians have approximately $240 billion in savings, money that is ready to be spent as we head into the Christmas period.”
The CommBank HSI Index combines analysis of CBA payments data (the largest consumer spending data set in Australia covering 2½ million households and approximately 40% of payment transactions), loan application information and Google Trends publicly available search activity to provide a unique and powerful monthly insights into current and future spending trends. Access the November report via www.commbank.com.au/hsi
The Holiday and Travel Magazine
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