VF Franchise Consulting

Big differences in Asian travel spending

Jul 30, 2015

Asian woman shopping, closeup portrait in the mall.

Koreans travel abroad most frequently, Chinese spent the most money and Japanese visit the most faraway places most often.

Those are findings from a study by Visa card, 2015 Survey on Travel Plans, in which 13,603 people from 25 different countries shared information about their travels.

According to the results, Koreans traveled an average of five times during the past two years, ranking the highest in travel frequency – well above the global average of three times.

Around 90 percent of the Korean respondents answered they had travelled abroad within the past two years. But as travellers, Koreans seem to be of frugal mind when it comes to expenses. They spent an average of $1808, which was way below the global average ($2281). They also have a tendency to set a budget and stick to it. Korean travelers paid 46 per cent of their expenses before departure, and 75 per cent of the payments were made by credit card.

On the other hand, the average travel expense for Chinese travelers was $4780 – more than double the global average. Unlike Koreans, Chinese people had a tendency to decide what they wanted to do on the trip first and then calculate the expenses.

While 36 per cent of Korean travelers and 34 per cent of Chinese travellers visited Japan, 36 per cent of Japanese travellers visited the US, showing their preference for long distance travel. The average time taken to get to the destination was longer for Japanese travelers (nine hours), compared to eight hours for Chinese travellers and six hours for Korean travellers.

The average travelling expense for Japanese was $3165, which was less than the average of Chinese.

In terms of accommodation, 41 per cent of Korean travellers and 62 per cent of Chinese preferred hotels with more than four stars, while 49 per cent of Japanese preferred one to three star hotels.

The portion of Koreans who preferred package tours (47 per cent) was similar to the portion of those who liked to travel freely (52 per cent). However, more than half of the Chinese (65 per cent) and Japanese (77 per cent) preferred tour packages.

Ian Jamieson, head of Visa Korea, said it was impressive that Korean travellers prepare well and frequently go on trips and the purchasing power of Chinese travellers was also interesting.

Source: insideretail.asia

Related Posts: The day that retail changed forever

Tropical Smoothie Cafe Signs 77 Franchise Agreements, Reports Same-Store Sales Of Over 12 Percent In First Half Of 2015

The Pizza Press Announces Build Out of First Franchise Restaurant

Ahold eyes A&P

Search Google, click and buy

Survey finds customer experience strategies lacking

Five things to look for in a franchise

Major obstacles restaurants must face in ASEAN Franchise

Local Focus

Fast food giants licking their lips over partnership options

[ Go back ]

Franchise Opportunities