1 in 4 Aussies need to earn $200K+ a year to travel ‘comfortably’

Shaun McGowan

New research from TravelInsurance.com.au reveals the staggering amount Aussies think they need to earn annually to travel ‘comfortably’: meaning without stressing about money while on holiday.

The nationally representative survey of more than 1,000 Australians found that nearly one in four (23%) say they’d need to earn $200,000 or more per year to travel without financial stress.

That’s almost double the average full-time annual salary in Australia, which sits at $102,742, according to the latest ABS data.

The survey found that 19% of Aussies say they’d need to earn between $100,000 and $129,999 annually to travel without worrying about money, while 13% say $130,000 to $149,999, and another 13% say $150,000 to $199,999 would be enough.

Other Aussies had more modest expectations, with 11% saying they’d need between $80,000 and $99,999, 9% nominating $60,000 to $79,999, and 12% believing earning under $60,000 annually would be sufficient to travel without financial stress.

How much would you need to earn annually to travel without worrying about money?

TravelInsurance.com.au CEO, Shaun McGowan, says the economics of travel have risen significantly in recent years.

“For the majority of Aussies, a six-figure salary is now the baseline if you want to travel without stressing about money. Post-pandemic airfares are still more expensive than you’d expect, and then there’s accommodation, insurance, transport, meals, tours — it all adds up quickly,” he says.

“What used to be considered a mid-range holiday can now cost thousands more, which is why so many Australians feel they need a much higher income to travel comfortably compared to just five years ago."

What travelling ‘comfortably’ means to Aussies

When asked what it means to travel without worrying about money, Australians had clear priorities. The top response was being able to splurge on food, experiences, or flights without worrying about the cost (26%). This was followed by staying in comfortable or stylish accommodation (20%) and taking longer holidays of two weeks or more (20%).

Other key responses included choosing a destination based on desire, not just affordability (19%), and travelling more than once a year (15%).

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