Joanna James
More and more Singaporeans are looking to explore the world. Travel has become a high priority, with people even willing to dip into their savings for new experiences in exotic locations. In this article, we explore how much Singaporeans are willing to spend on holidays and what type of experiences they prefer.
Singapore invests heavily in leisure and entertainment infrastructure. From day trips to Sentosa to staying at a hotel in Tiong Bahru, Singaporeans make time to make the best of what they have available locally. A local getaway could be a couple of days at a hotel like the Hotel 81 Osaka or a few days of theme park travel, adventure sports, learning new crafts, spa time and upscale dining.
According to research led by Outpayce, senior Singaporeans are willing to pay about $5,571.2 on average for overseas holidays. People over 55 years of age have acquired more wealth and free time. While some older Singaporeans prefer tour operators to take care of their holidays, there are some who are more adventurous.
The younger generation may be a little more time and budget poor. However, they are willing to invest about $3,794 on average to see the world. The figure keeps on increasing on a yearly basis. About 44 percent of young Singaporeans are willing to spend some of their savings to enrich their experience portfolio. The general consensus is that travelling the world is a way to live more intently, savouring moments. They also believe that travelling allows each person to grow more as an individual.
As the number of extended families migrating increases, most Singaporeans wish to travel to see extended family and friends. This is true of about 43 percent of Singaporeans surveyed. During the pandemic years and the aftermath, more people managed to save more. About 40 percent wish to spend these savings on something as exciting as exploring other parts of the world. Since the last few years have been tough for a majority of Singaporeans, they seem to have a desire to treat themselves to some overseas adventures.
Outpayce revealed that over half of Singaporeans are taking overseas trips compared to the pandemic period.
As Singaporeans consider travel as a high priority, some (35 percent) opt for ‘buy now, pay later’ services and installment plans with travel operators to fund their overseas trips. Some on the other hand use credit card plans to fund travel. They also prefer travel providers that allow payments in local currency and offer transparency about foreign exchange. They are always on the lookout for ways to minimize forex rates while travelling.
In recent years, a large number of Singaporeans choose Seoul, South Korea as their preferred destination. In spring, Singaporeans love to explore Japan with Japanese cities high on the list to explore. While Asia is high on the list, some Singaporeans seem to love Australian beaches and the vast landscape of the USA. Britain with its pastoral countryside, different kinds of seascapes and rich heritage is another popular destination choice amongst Singaporeans. Here is a list of cities that Singaporeans love to explore:
· Seoul
· Bangkok
· Hong Kong
· Shinjuku
· London
· Paris
· Kuala Lumpur
· Seminyak
· Kyoto
· Osaka
In spite of rising rent and cost of living, Singaporeans continue to make travel and leisure a priority. They cut back on other expenses to fund exciting adventures elsewhere.
A true believer that the pen is a mighty weapon, ventures into reaching the minds of every reader with the earnest hope of leaving an indelible stream of thought.
A travel writer who has a passion for fashion and a deep interest in admiring new and exotic attractions around the world.
