In a recent survey by Skyscanner and Trust Bank, 40% of Singapore travellers have revealed that saving for leisure travel is more important than other financial goals. The Savvy Travel Survey, which gathered insights from 1,000 Singaporeans, also found that 74% plan to take the same or more trips in the next 12 months, highlighting travel as a key financial priority.
Despite this enthusiasm, 69% of respondents find budgeting for holidays challenging, and 72% worry about managing travel costs. Cyndi Hui, Skyscanner Travel Trends and Destination Expert, noted, “Singapore travellers aren’t putting their travel dreams on hold, despite economic uncertainties – they are getting smarter.” Strategies include booking flights early, flying during off-peak seasons, and opting for budget-friendly destinations.
Financial challenges persist, with 44% struggling to find affordable flights and accommodation, 40% finding it hard to stick to a budget, and 30% dealing with unexpected expenses. To address these issues, Skyscanner and Trust Bank offer tips for better budgeting. Aditya Gupta, Chief Product Officer of Trust Bank, suggests using dedicated savings pots and choosing local currency transactions abroad to avoid extra fees.
The survey underscores the importance of travel for Singaporeans, with Skyscanner and Trust Bank providing guidance to help travellers maximise their experiences whilst staying financially savvy.
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