Australian tourists are leading the pack when it comes to spending on experiences and nightlife while traveling abroad, a new report has found. According to the annual report on global travel trends released by the Mastercard Economics Institute, Australian tourists allocate nearly one-fifth of their holiday budget to these activities, compared to the global average of 12 percent.
Mastercard chief economist David Mann highlighted the preference of Australian travelers for experiences over retail therapy, stating, “There is a difference in preferences, when folks from Australia are traveling around, they are doing it more for the experiences – that is more of the preference, rather than the retail therapy.”
The report also revealed that destinations like Fiji, Bali, Tokyo, Queenstown, Kuala Lumpur, Manila, and Osaka have seen a surge in tourism from Australian travelers since the COVID-19 pandemic. Mann attributed the increased interest in Japan to the favorable exchange rate, with the yen near a 17-year low against the Australian dollar.
In terms of inbound tourism, Australia has been attracting more visitors from countries like New Zealand, the United States, South Korea, and India. Mann emphasized the potential of Indian travelers, stating, “We see that travelers from India eventually will be or could be as important for various destinations as travelers coming in from China today.”
With rapid growth, a burgeoning middle class, and increasing demand for travel, India is poised to become a key player in the global tourism market. The report underscores the shifting dynamics of international tourism and the evolving preferences of travelers worldwide.