Australia (TTF), has launched a new annual survey to coincide with the annual TTF Leadership Summit which has found nearly 40% of Australians have changed their travel intentions because of the falling Australian dollar.
The national survey found:
- 7% have already switched their intended international destination for one with a cheaper currency.
- 5% have switched from an international to a domestic travel destination
- 12% of people said they will now swap the kinds of activities they undertake and the level of accommodation they stay in so they can stay inside their budget
- And 15% say they expect to travel to more domestic destinations as a result of the lower Aussie dollar.
The Australian dollar has fallen 15% in the past 12 months.
“The falling Aussie dollar is a fact of life in 2015, and there has been a lot of speculation about the impact on people’s travel intentions, especially international travel,” TTF CEO Margy Osmond said.
“The falling Aussie dollar is starting to have an impact on travel intentions and we can expect that impact to strengthen over time.”
The TTF annual Leadership Summit survey also found:
- 48% of Australians are still planning to take an overseas holiday in the next 12 months;
- The USA is the most popular intended overseas destination, followed by New Zealand, the UK, Japan and Thailand; and
- 56% of Australians intend to take a domestic holiday in the next 12 months.
The survey also asked people how their travel intentions would be affected by any increase in the GST. The survey found that nearly 40% of people would be less likely to travel domestically (and 30% internationally) if the GST was increased.
The survey also found the top 5 factors that influence travel intentions are:
- Cost of travel;
- Cost of accommodation;
- Destination’s climate;
- Ease of access to destination; and
- Family and friends at destination.