Collinsons report shows Asians willing to spend for travel

Travel engagement options agency Collinson International simply launched its 2024 Travel Benefits and Customer Engagement Report. 

This report covers travel habits within the Asia Pacific, providing a complete evaluation of behaviours, perceptions, and preferences of travellers within the area.

Featured data contains how a lot particular person travellers are willing to spend for journeys and experiences on each world and home ranges.

Travel equals a 3rd of annual expenditures

Based on the responses of seven,250 respondents throughout 14 markets in Asia Pacific, key findings present that travel is likely one of the highest spend classes for respondents throughout all markets.

Southeast Asia, specifically, is starting to appear to be an emergent powerhouse when it comes to travel spending. The report notably shows how Singaporean respondents spend round US$10,619 on journeys per 12 months, round double the quantity spent in mainland China and Japan.

Travellers from Malaysia and Thailand will not be far behind, as in addition they spend significantly on travel yearly, budgeting US$5,939 and US$5,548 respectively.

Travel as a main mover for shopper spending

Commenting on the findings, Collinson International’s vice-president for enterprise options within the Asia Pacific Rohan Bhalla stated: “Our research has shown that travel is a key driver for consumer expenditure. This ‘travel resonance’ is especially strong with Southeast Asian survey respondents, further demonstrating how much the region is primed to be the next travel powerhouse.” 

Bhalla added that, past the rise of Indian outbound travellers and the much-anticipated Chinese outbound travel resurgence, tourism professionals mustn’t ignore the potential of Southeast Asia’s travel market.

Indeed, even earlier than the pandemic, this dynamic area generated over 40 million departures and US$53 billion in outbound travel expenditures.

Likewise, travel isn’t the one issue motivating Asians to spend. Many are additionally looking out for enhanced experiences

Consumers in Asia Pacific will not be simply wanting to travel extra, however are additionally wanting enhanced experiences. Around 44 % of respondents ranked airport lounge entry as their prime travel-related bank card profit, outstripping service-oriented advantages like safety fast-track and airport transfers. 

In addition, roughly 90 % of respondents within the area thought of entry to airport lounges a travel profit that they’d anticipate on any bank card with an annual charge. 

On the opposite hand, 89 % remarked that they’d take into account switching to a brand new card if it supplied membership with their favorite airport lounge entry programme if such a profit was unavailable with their present card.

Other perks

The analysis additionally revealed that travel experiences past airport lounge entry, akin to accessing eating provides whereas travelling, are extremely valued amongst Asia Pacific travellers.

Indeed, respondents in Thailand, Malaysia, Australia, Hong Kong, Taiwan, Singapore, and the Philippines listed ‘dining offers’ of their prime 5 most most popular travel advantages.

Bhalla stated of this: “With strong, positive consumer sentiment towards travel, brands, particularly in the financial services sector, have a unique opportunity to leverage travel as a key competitive advantage. By integrating travel and airport related benefits and experiences into customer engagement and loyalty programmes, brands are able to level-up their customer value proposition, enhance customer satisfaction, differentiate from competition, and deliver measurable business impact.”