Visa Report: Saudis Spending Most On Global Travel

Global travelers are throwing worries out the window: along with their old spending budgets.

According to Visa’s latest report, “Global Travel Intentions Study 2013,” tourists traveling from Saudi Arabia were the top spenders. Saudis are spending lavishly, at an average of $6,666 allotted per trip, which exceeds the global average by almost three times. Individuals from the Middle East and Africa are spending an average of $218 for each day of travel, which was slightly lower than the global average of $239.

Following close behind travelers from Saudi Arabia were Australians ($4,118 per trip) and Chinese ($3,824 per trip). Travelers from the APAC regions had a higher daily spending budget than any other region ($273), which also exceeded the global average.

Visa surveyed 12,631 tourists across 25 countries, who averaged a spending budget of $2,390 for each trip.

The report indicated a 46 percent increase in the Asian market. Respondents within areas such as Singapore, Thailand and Hong Kong expressed plans to spend at least double on future trips in the next year. Given the participants’ positive traveling attitude, Visa expects that the average budget will increase from $2,390 to $2,501.

“Cross-border tourism is thriving and travelers intend to increase budgets for their next trip by an average of five percent,” Visa said, reports Al Arabiya.

While individuals around the world have chosen to remain frugal in other sectors considering the economic times, the Visa report indicated a more relaxed spending approach when it came to the tourism industry.

Ross Jackson, head of cross-border in Asia Pacific, Central Europe, Middle East and Africa at Visa, commented in a press release by Visa, “Global economic woes have been well-documented over the past few years but our Visa Global Intentions Study 2013 hints at a change in both the financial landscape and consumer mindset, suggesting either economic recovery or a growing appetite for larger travel budgets.” He continued, “Both provide excellent news for everyone involved in the global and tourism industry.”

The Visa study revealed that top traveling destinations amongst tourists: United States reigned as the most popular destination for tourism, followed by the UK, France, China, Singapore, Thailand and Hong Kong. Top spenders in Saudi Arabia, and tourists from neighboring regions such as Kuwait and U.A.E., indicated a 76 percent intent to travel more frequently in the future.

When Visa asked participants why they were traveling, 38 percent reported that it was an opportunity to spend time with family and friends.

To read the full report at Visa click here, or to read the story at Al Arabiya click here.