Holiday season

YouTrip Reveals Singaporeans’ Travel Behavior During 2021 Holiday Season

Singaporeans over 50 have become the biggest spenders, with each trip costing an average of $1,500, a 20% increase from 2019.

SINGAPORE – After being grounded for almost two years, the opening of 24 Vaccinated pathways (VTL) in the second half of 2021 was light in the tunnel for travel-starved Singaporeans. Travel habits were particularly marked during the end-of-year holiday period, with YouTrip – Singapore’s first multi-currency wallet – registering a 400%1 year-on-year (YoY) increase in total overseas spending among its local users in November and December 2021.

The company also revealed that the total number of airline bookings in the two months increased by 700% year-on-year. Similarly, hotel bookings during this period increased by more than 500% year-on-year, while purchases at travel agencies and attractions increased by more than 1,300% year-on-year during the period. celebrations.

The travel behavior of Singaporeans last year gave us a glimpse of the potential for the return of travel. Undoubtedly this took a temporary hiatus due to border tightening to curb the spread of the Omicron variant, however, we have seen our users take these changes in their stride with most of them moving forward with pre-planned trips to recharge and reconnect to the world,” noted Lam Kelvin, Regional General Manager, YouTrip.

After all, we’ve been living with the pandemic for two years now and people are better equipped to take the necessary precautions to protect themselves locally and abroad. While a careful and cautious approach is imperative, I remain optimistic that leisure travel will eventually return in 2022 and believe that Singaporeans will be eager to get back on their feet once borders reopen.,” he added.

By analyzing Singaporeans’ year-end outbound spending, YouTrip further uncovered three key insights into locals’ travel habits:

Idea #1: Young travelers are traveling more and spending more
Young Singaporeans made up the majority of this first wave of jet-setters, with one in two travelers between the ages of 20 and 35. Next come those aged 35 to 50 (30%), while those over 50 (20%) took a more cautious approach to theft.

In view of their expenses2 , Gen Z and Millennials (20-35) saw an estimated average of $1,000 spent in-store in the countries they visited – a 50% increase from average spending in 2019 before the pandemic does not strike. This formed the largest increase in spending among age groups, illustrating their desire to loosen the purse strings for a more desirable travel experience.

Singaporeans over 50 have become the biggest spenders, with each trip costing an average of $1,500, a 20% increase from 2019.

Insight #2: Singaporeans are flocking to Europe and the US to get their travel fix
Quarantine-free air travel gave Singaporeans a chance to re-explore the world, and they were varied in their choice of travel destination. Over the two months, YouTrip was spent in a total of 128 countries, with Northern Europe, Western Europe and North America being the top three regions. Singaporeans were also ready to go further after staying at home for so long, changing their preference from Asian countries in 2019 to faraway destinations in 2021:

Preview #3. Singaporeans stock up on luxury goods
For locals, traveling is synonymous with shopping and dining. So it’s no surprise that the two made up the top two spending categories among users. When it came to shopping abroad, Singaporeans spared no expense. “Luxury shopping” was a priority for most of their travel agenda, which is why high-end brands such as Chanel, Hermes and Prada constituted the bulk of the purchase expenditure of residents abroad. Interestingly, this contrasted with consumer behavior in 2019, when users opted for more affordable brands such as Uniqlo, Don Don Donki and Chemist Warehouse.

While to eat, McDonald’s (#1) and Starbucks (#2) proved to be the comfortable choice for Singaporeans when it comes to F&B options, while some indulged in London’s (#3) Flat Iron Steak. What also stands out is the increase in UberEats (#4) – possibly indicates that some travelers choose the safer option to dine in.

YouTrip Mastercard flight delay package
Despite the travel restrictions, YouTrip has also observed that a significant number of travelers continue to travel for personal and business needs. To give Singaporeans extra peace of mind, it is offering all local users a new travel benefit with the Mastercard Flight Delay Pass. With this Pass, each YouTrip user and one travel companion will be able to access over 1,000 airport lounges worldwide if their pre-booked flights are delayed by at least two hours.

Source link