TripAdvisor: 40% of respondents plan to increase their travel budgets in 2015, with 50% of them being millennials

TripAdvisor, a famous American travel information website, conducted a survey in 32 representative countries on the travel budget of global tourists in 2015. Let's take a look at the results of the survey.

In the 2015 Global Tourism Economy Report - March Travel Guide, we can see that in 2015, 40% of the respondents plan to increase their travel budgets, of which 50% are millennial travelers (usually referring to tourists aged 18 to 34), and most of them increase their budgets to complete the places listed in their bucket list. Another 42% of the respondents (including millennial travelers) mentioned the reason for their increase in travel budgets: it is worth doing so for the family. In particular, about 60% of Indonesian family travelers cited this reason as the reason for increasing their travel budgets in 2015.

Visitors

The global survey report shows that among millennial tourists, 40% said they would increase their travel budget in 2015, 25% said their 2015 budget would remain the same as their 2014 travel spending, and 25% planned to reduce their travel budget.

While some millennials are increasing their travel budgets to check off their bucket lists, 38% of millennials say they are reducing their travel budgets for one simple reason: lack of money.

(Left: Reasons for increasing travel budget; Right: Reasons for reducing travel budget)

In fact, millennials were the most likely group of travelers to cite “financial constraints” as the reason for reducing their travel budgets in 2015: Of the 38% of millennials who reduced their travel budgets, 31% did so for financial reasons.

30% of millennial travelers said in the survey that they would choose to travel to cheaper countries, thus reducing their travel budgets, and 27% of them said they would include cheaper attractions in their plans.

The "Tourism Barometer" survey on the TripAdvisor website was conducted by Ipsos MORI, and the field survey lasted for 18 days from January 16 to February 2, 2015. The survey covered 32 countries around the world, which are basically within the coverage of TripAdvisor.

nation

As expected, travel budget trends vary across countries. As can be seen in the figure below: South Africa, Thailand and Argentina are the top three countries with the highest proportion of respondents increasing their travel budgets. The top ten countries include India, New Zealand, Australia, China, Malaysia, Indonesia and Brazil.

It is worth mentioning that the country with the lowest proportion of respondents planning to reduce their travel budget is China - only 12%.

The survey also found that Russia and Greece were the two countries with the highest proportion of reducing their tourism budgets, at 33% and 35% respectively (the average was 23%). The former was due to the impact of sanctions from Western countries and the depreciation of the ruble, while the latter was due to the dual pressure of austerity policies and the depreciation of the euro.