TripAdvisor has unveiled the results of the third installment of TripBarometer, a biannual study conducted on behalf of TripAdvisor by independent research firm Ipsos.
According to the survey, travellers are planning to spend more on their holidays in 2014 with the average annual traveller spend rising from US$ 5,955 in 2013 to US$ 6,136 for this year, an increase of three per cent. On average, Asian travellers plan to increase their annual travel spend by seven per cent from US$ 4,331 in 2013 to US$ 4,633 in 2014.
The survey highlights country, regional and global travel trends, according to more than 61,000 travellers and hoteliers around the world, with 5,657 consumer and 1,142 business respondents from Asia. Revealing changes in consumer spending plans and worldwide travel patterns, the TripBarometer also reports behavioural differences in planning and booking habits of travellers.
The proportion of travellers planning to travel has increased across almost all markets. This year, 90 per cent of global travellers are planning to travel domestically (up from 87 per cent in 2013) and 77 per cent plan to travel internationally, up 12 per cent compared to 2013 (65 per cent). In Asia, 93 per cent of travellers are planning to travel domestically (up from 90 per cent in 2013) while 74 per cent are planning to travel abroad, up 14 per cent compared to 2013 (60 per cent).
South African travellers are planning the biggest increase in their travel budgets this year, up 30 per cent from 2013, followed by Indonesians, Australians and Malaysians. Despite relatively low optimism in the economy (only 11 per cent of global respondents and 17 per cent of Asians will spend more on travel because they feel more confident about the economy), travellers are not willing to give up their holidays, with many opting to hunt for bargains and make sacrifices in other areas of their lives in order to protect their travel spend.
The tendency to do more research in order to find the best bargain is strong amongst travellers. The majority of travellers (Global; 54 per cent and Asia; 51 per cent) say their choice of holiday is often determined by the availability of a good deal or special offer. In fact, TripBarometer respondents in Asia indicate that ‘price’ (94 per cent) and ‘special offers’ (49 per cent) are important decision-making factors when booking their accommodation.
The study reveals that currency fluctuations are likely to affect travel plans