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The Australasian by NewsServices.com


New data has revealed that despite current economic pressures, Australians are travelling longer and spending more on their summer holidays than their counterparts in Europe, the United States and Canada. 

 

The research was commissioned by leading global assistance company, Europ Assistance, the parent company of award-winning Australian travel insurance provider InsureandGo

The findings are derived from the Europ Assistance 2023 Holiday Barometer, an annual global survey of 15,000 respondents from 15 countries, designed to uncover travel trends. Australia was included in the research for the first time this year – with a panel of 1000 respondents from Australia taking part in the survey – after Europ Assistance’s acquisition of InsureandGo Australia and Tick Travel Insurance. 

 

The study examined a range of key factors including reasons people refrain from travel, travel budgets, adjustment of travel plans due to inflation, average holiday lengths and the desire to travel abroad. 

 

The results revealed that less than a quarter (23%) of respondents from Australia would choose a closer destination for a summer holiday due to inflation, compared with an equal 27 per cent of European, Canadian and American respondents. 

 

The survey also showed Australian respondents are spending more on summer holidays – an average of AU$4602 - than respondents from the USA (AU$4544), Canada (AU$3633) and Europe (AU$3144).[1]

 

InsureandGo Chief Commercial Officer Jonathan Etkind said, “Australians have long been perceived as travel enthusiasts. The research confirms that travel is high on our list of priorities, with inflation having a relatively smaller impact on our travel plans. 

 

“Canadians appear to be the most budget-conscious travellers, with 40 per cent of respondents in the research indicating they would refrain from travel this year to save money, followed by 37 per cent of Americans. In comparison, less than a third (32%) of Australian respondents are willing to give up their travel this summer to save money,” he said. 


Australians are also taking the longest summer holidays. The report found Aussie respondents to have the highest average summer holiday duration, at 2.1 weeks on average, compared with 1.9 weeks for Europeans, 1.8 weeks for Canadians and 1.6 weeks for Americans. 

 

Mr Etkind said, “The results could also suggest that Australians are accumulating more savings for travel, relative to European and North American travellers. A part of this is necessity: airfares from Australia to international destinations make up a large part of our travel budgets, and after a long-haul flight it makes sense that Australians want to make the most of their time in their holiday destination.”

 

The full report can be found here: https://www.insureandgo.com.au/media/2023/05/GLOBAL-REPORT-Holiday-Barometer-EA-Ipsos-2023.pdf  

 

Comparing Australia to Europe, USA & Canada

Europe

USA

Canada

Australia

 

Choosing a closer destination

29%

26%

27%

23%

Saving money is one of the main reasons not to travel in 2023

27% 

37%

40%

32%

Summer Holiday Budget[2]

AU$3144 (€1,918)

AU$4544 
 (€2,772)

AU$3633 (€2,216)

AU$4602 (€2,807)

Summer Holiday Duration

1.9 weeks

1.6 weeks

1.8 weeks

2.1 weeks

 

About InsureandGo

InsureandGo (InsureandGo.com.au) is one of Australia’s leading, award-winning online travel insurance specialists. Since it was established in Australia in 2012, InsureandGo has covered more than 2 million Australian travellers. Owned by Europ Assistance, which operates in more than 200 countries, InsureandGo has an expansive, 24/7 global assistance network. InsureandGo Australia has won numerous awards and recommendations for its services including the 2023 Finder Award for ‘Travel Insurance – Domestic’, the 2023 WeMoney Travel Award for ‘Best for Seniors’ and ‘Outstanding Value- Cruise Travel Insurance’, the 2022 Canstar Award for Outstanding Value for Seniors, 2020 Feefo Gold Trusted Service Award, the 2019 Canstar Outstanding Value for Domestic Travel Insurance and two 2019 Mozo Experts Choice Awards. More information about InsureandGo’s awards can be found on its website: https://www.insureandgo.com.au/travel-insurance-awards/.

 

Europ Assistance Australia Pty Ltd trading as InsureandGo as an authorised representative AR Number 424825 of the underwriter and insurer Mitsui Sumitomo Insurance Company, Ltd AFSL 240816. Any advice is general advice only and does not take account of your particular circumstances. Before purchasing, decide whether this product is right for you. Consider the PDS and TMD at insureandgo.com.au.

 

[1] Based on an exchange rate of 1 AUD = 0.61 Euro 

[2] Based on an exchange rate of 1 AUD = 0.61 Euro

 

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