Asian travelers to spend more in 2014
April 25, 2014
Published on Apr 25, 2014
But region's tourists still seeking out bargains, according to TripAdvisor study
Asian travelers will spend approximately 7% more on travel this year than they did in 2013, a new study has found.
According to the latest edition of TripAdvisor's 'TripBarometer', which monitors travelers' intentions, Asians plan to spend an average of US$4,633 on travel this year, up from US$4,331 in 2013. Asia still lags behind the global average visitor spending levels however; globally, travelers' average annual spending is projected to increase 3% from US$5,955 in 2013 to US$6,136 this year.
Asians are also traveling more this year; with 93% of respondents saying they plan to travel domestically in 2014 (up from 90% in 2013) and 74% planning to travel abroad, compared to just 60% last year.
TripAdvisor noted however, that while travelers are prepared to increase their travel budgets, they are also looking for bargains. More than half (51%) of Asian travelers said their choice of holiday is often determined by the availability of a good deal or special offer. And for Asian travellers, price (94%) and special offers (49%) were found to be the most important decision-making factors for accommodation bookings.
"Exploration is back on the agenda in 2014, with more travelers planning international trips this year," said Marc Charron, president of TripAdvisor for Business.
"Travelers are upping their budgets but they are looking for bargains, expecting their accommodation of choice to deliver on value. Special offers, complimentary amenities and exceptional service are all going to be important factors in swaying potential guests."
Europe (46%) tops the list of places global travelers plan to visit in the next 12-24 months, followed by Asia (39%) and North America (32%). But the US (28%) tops the list of 'dream' destinations for Asian travellers, followed by Italy (27%) and Australia (26%).
The TripBarometer surveyed 61,000 travelers and hoteliers around the world, including 5,657 consumer and 1,142 business respondents from Asia.
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