Australians continue to splurge on travel despite cost-of-living pressure
Almost all Australians are planning to travel domestically within the next year, despite over half of them feeling the squeeze on their travel budget from cost-of-living pressure, according to the latest research by News Corp Australia.
The company’s market insight lab, The Growth D_Stillery, found that although 51% of the respondents said rising living costs have adversely affected travel budgets, 57% were planning international travel and 92% domestically in the next 12 months.
Interestingly, they also plan on spending more money, with more than half anticipating spending the same amount or more compared to 12 months ago.
In addition, more Australians are adopting a pragmatic approach to travel. While the destination is considered non-negotiable, they are willing to compromise on how they get there, or what they do when they arrive.
45% of respondents reported booking travel arrangements themselves. Travellers are embracing self-sufficiency by eating-in and preparing their own meals while on tour, and cutting back on attractions and seeking free activities at their destination.
Director of The Growth D_Stillery Dan Krigstein said: “Our research reaffirms just how deeply ingrained travel is in the Australian psyche. Where there’s a will to travel, Australians are finding ways to do so. Travel is not just a luxury but an essential part of our identity.
“Australians are eager to resume their adventures, with a significant percentage planning both international and domestic trips in the coming year. It will just look a little different to our habits from years prior.”
Managing director national sales Lou Barrett said the research highlights opportunities for marketers in the travel sector to leverage in their pursuit of growth.
“We believe in providing our clients with valuable data and insights,” said Barrett. “The Travel D_Stilled report equips marketers with a deeper understanding of the travel preferences and aspirations of Australians. It will enable them to tailor strategies to effectively engage with their target audience and deliver real business outcomes.”
A full breakdown of Travel D_Stilled research will be presented by Krigstein and dissected by a panel of experts at the Mumbrella Travel Summit this Thursday.
Travel D_Stilled Methodology: News Corp Australia / Growth Intelligence Centre and Verve Australia Travel Survey n=1498, data collection May 2023.
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Darcy Song was a reporter at Mumbrella, covering media owners, adtech and social platforms. She left in October 2023.
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