Thais make more trips

BANGKOK  As many as 89% of Thais, who participated in the latest Visa Global Travel Intentions Study, said they have travelled overseas for leisure in the past two years, logging in five trips in the period, and spending about THB44,000 per trip. (1)
The study surveyed 13,603 travellers, 18 and up, during January and February 2015.
Thai travellers typically embark on shorter regional trips. The top destinations in the past two years were Japan, Singapore, China, Hong Kong, and South Korea, in that order.
An average trip lasts six nights and takes a maximum of five hours of journey time. Almost half of the travellers, who travel with companions, preferred to travel with a group of friends or colleagues rather than with their partners and spouses.
inside no 5Comparing global travellers to Thais, almost three in five travel as couples (58%) while just over one-third of Thais do the same (36%).
Financial behaviour too differs between Thai travellers and their counterparts in other countries.
“Thais are more inclined to find travel deals that reflect their budgets compared to global travellers. While both spend the majority of their money during the trip, interestingly Thais use credit cards more at destinations,” said Somboon Krobteeranon, Country Manager, Visa Thailand.
The study, conducted with 13,603 travellers across 25 markets including Thailand, identifies a host of changing habits and preferences among travellers around the world, notably in how they plan, budget and spend during their trips.
However, a consistent preference to use Visa card as their primary credit card at destinations remained across all age groups.
Rise in electronic payments
Since the study was last carried out in 2013, more Thai travellers than ever are using their cards at their holiday destinations, with 98% of travellers including at least one payment card in their holiday wallet, higher than both global (93%) and APAC (95%) averages.
inside no 5 Somboon Krobteeranon
Somboon Krobteeranon
They overwhelmingly prefer to pay with their credit cards when booking their trip (60%), as opposed to just one in four who pays via money transfer, citing security and personal preference as reasons for their inclination towards credit card payment.
Independent Thai travellers are most likely to book their trip online (81%). When at their destination, over three-quarters of Thai travellers use their credit card for payments, higher than the global average (68%). Visa was a clear favourite among Thai travellers with 63% of users expressing it as their main card for use overseas, making it more than twice as popular as the runner-up payment brand (28%).
While most Thai travellers budget carefully during the planning stage (59%), in line with global preferences, more than two-thirds do not mind going over budget if there is an activity or experience at the destination that catches their imagination (68%).
Thai travellers were found to spend the most on shopping (31%), dining (22%), and accommodation (10%). Credit card was the preferred payment method for purchases at luxury brand retailers and high-end restaurants. In general, larger ticket items were typically paid for by payment card.
Different groups, different habits
As more Thais travel overseas for leisure, they also intend to spend significantly more while on holiday. Overall, they expect their holiday budget to jump from THB44,000 on their last trip to THB83,000 for their next overseas adventure.
Cash might still be king in Thailand, making up about 75% of consumer expenditure, but card payments are gaining ground, as evident that almost all Thai travellers (98%) carry payment cards with them.
“The Study confirms that one in three Thai travellers would spend more if there was wider card acceptance, with Visa being their main brand of choice. They know that they can use their Visa cards from Sapporo to Singapore and expect the same simple, fast and secure transaction,” Somboon added.
(1) For Thailand, the Visa Global Travel Intentions Study has a sample size of 503. Conducted by Millward Brown on behalf of Visa, it surveyed travellers aged 18 years and above from January to February 2015.

sourced:ttrweekly.com