Canstar has released its fourth annual report – 2020 Consumer Pulse Report – uncovering Australians’
financial pain points, savings goals and property market outlook for the year ahead.
The report reveals the following insights regarding travel:
- Travel is no longer Australians’ number one savings priority. Since the Consumer Pulse Report began in 2017, Australians have consistently said the main expense they are saving for is a holiday. However, this year the impact of the COVID-19 pandemic and resulting travel restrictions seems to have changed the perspective of Australian savers with saving for an holiday being bumped from the number one position in place of living costs (e.g. groceries and electricity).
- Baby Boomers are eager for international travel. 9% of Australians said their number one savings priority is an international holiday, however this climbs to 13% of Baby Boomers and sees international holiday making it into Baby Boomers’ top three savings goals. In comparison, only 8% of Gen X and 6% of both Millennials and Gen Z are prioritising savings for international travel.
- Domestic travel aspirations remain stable. 6% of Australians have said the main expense they are saving for is a domestic holiday, up only 1% from the year prior.
Read the FULL REPORT HERE
