Friday 5 August 2022

7 out of 10 Aussies still eager to travel despite soaring cost of living

New research from Booking.com, the world’s leading online travel company, shows that 7 out of 10 Aussies (72%) are eager to still prioritise domestic travel and holidaying at home over international trips in the next 12 months.

The majority (72%) also admitted that the cost of travel is the greatest consideration when it comes to post-pandemic travel, higher than the average (59%) of all travellers polled across Asia-Pacific.

The insights have been drawn from Booking.com’s inaugural APAC Travel Confidence Index, which provides a snapshot of how confident consumers feel about exploring the world again and their motivation to travel. The commissioned research, which polled 11,000 travellers from 11 countries and territories¹ including over 1000 from Australia between April and May 2022, combined with the company’s proprietary data and insights as a digital travel leader for the past 25 years, offers insights into the region’s travel confidence.

Travel Confidence Market Ranking

The Travel Confidence Index explores the overall comfort levels, motivators, and concerns of consumers across Asia-Pacific and how this varies across the region. Across the 11 countries polled, India emerged most confident with a clear majority (86%) of Indian travellers stating they intend to travel in the next 12 months; followed closely by Vietnam and China. Australia comes in fifth place at 72% - a healthy and positive confidence level - however cost factors continue to impact purchase behaviours despite international borders further relaxing.

Top Travel Considerations and Motivators

The desire to travel remains strong amongst Aussies overall, with cost (72%), safety (54%) and convenience (36%) the top three considerations for those looking to book travel in the next year. In comparison, the top two considerations which ranked consistently high across all markets were ease of planning and booking travel, even as restrictions continue to ease around the region.

The desire to “just get away” (51%) emerged as the top motivator to travel for Australian consumers, followed by those wanting to reunite with family (42%) and lastly those rebooking a pre-Covid trip (23%). Interestingly, after two years of lockdowns and minimal travel, only 15% of Aussies indicated that they were interested in travelling to a wellness retreat, a much lower response compared to other regions.

Top Travel Deterrents

Whilst cost was a main consideration in booking travel, it also came out as the top concern for Aussie travellers with almost half (47%) highlighting that in the current climate cost is a major deterrent, followed still, by the current fear of falling sick (39%). Unsurprisingly, due to the ongoing nature of the constantly evolving pandemic and cost of living climate, the ‘access to flexible cancellations and clear refund information’ (67%) was a key part of ,and motivation or deterrent, to book travel.

Interestingly, despite cost strongly influencing Aussie travel decisions, almost half (40%) believe they are likely to travel internationally in the next six months, with most (46%) likely to continue to look within the Asia-Pacific region for their first trip.

Alternative Accommodations Accelerate

The type of accommodations Australians are wanting to stay in has also changed by the pandemic, with a third (37%) agreeing that their preferences have shifted. Whilst hotels maintain the majority of preferred accommodations to stay in, a quarter (24%) of respondents are now favouring homes and apartments. This is even higher if you include ‘B&Bs and ‘Other’ alternative accommodations in the mix.

Melissa Ellison, Area Manager Australia at Booking.com said, “It is clear that whilst travel has been reinvigorated with borders now open, cost of living pressures across Australia are still a significant factor in the decision to travel again. Tourism operators and governments at all levels need to continue to work together to provide sustainable and affordable options for re-energising the sector.

Our APAC Travel Confidence Index reflects how while travel intent remains strong, travel confidence remains nuanced and varied across Asia compared to Australia. The increased preference for homes and apartments as well as a majority still only seeking to travel domestically, should be considered a positive in supporting the local travel industry over the next 12 months.

It is a promising indication of the opportunities available for the industry to adapt and collaborate now to bolster the overall confidence of travellers, so we can truly make it easier for everyone to travel and experience the world again.”

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