Vietnamese travelers take the most shorts trips in the world, according to Visa Global Travel Intentions (GTI) Survey

03/07/2018

Vietnamese expected to travel more, spend more, and increasingly travel outside of Asia over the next two years.

 

Visa (NYSE: V) today announced a worldwide, comprehensive look at travel and tourism in 2018. The Visa Global Travel Intentions (GTI) Study findings highlight various parts of the travelers’ journey, surveying respondents from Vietnam, as well as around the world. Some of the top themes from the Study found travelers the world over are taking shorter and more frequent trips, motivated by the need to bond with family and loved ones – yet worries about the loss / theft of cash at destination remain.  Among the countries, Vietnamese travelers take the most shorts trips in the world with 74% of trips being in 4 nights or less.

As the desire to travel continues to grow, the GTI Study, a comprehensive study of travelers from 27 countries, found motivations to travel have blurred, with consumers citing a combination of “achievement” and “reward” as a key motivator. Among the top 5 motivations, reward based motivations include bonding with family and friends and to unplug, while achiever based motivations include experiencing new cultures and visiting exotic destinations. Six in ten travelers globally (63%) describe themselves as wanting a combination of both throughout their travels, while seven in ten Vietnamese travelers (72%) fall into this category.

The study also showed a range of positive trends amongst Vietnamese travelers. Some of the key findings from the Vietnam report include:

  • Trips are getting shorter. The average time spent abroad during the last trip is four nights for Vietnamese travelers, much lower than the APAC average of 7 nights. They choose destinations that are, on average, 4.5 hours of travel time away.
  • More trips abroad: On average, Vietnamese travelers are expected to take nearly five trips abroad in the next two years—up from 3.5 trips abroad in the last two years.
  • Thailand, South Korea, Japan and Singapore are the most visited countries. Intra-region travel dominates – 91% of travelers visited a destination in Asia in the past 2 years. They are likely to continue to be well patronized over the next two years, with the USA emerging in the top 5.
  • Technology is helping travelers in their planning and navigation:  90% go online in order to plan their trips, while 77% use the internet while traveling in order to help guide them. Nearly half of all travelers use social media for tips and advice on where to travel to.
  • Travelers intend to spend more: On their next trip, Vietnamese travelers expect to spend a median amount of US$1,100 per trip – up from a median amount of US$880 on their last trip.
  • Cards used frequently: 74% of travelers use credit or debit cards while booking their trips, and while at their destination, many do use cards, but majority of travelers prefer to carry cash in foreign currency. 

 “As Vietnam’s economy grows, and an increasing number of citizens join the ranks of the global middle and upper classes, more people are going to take an interest in traveling the world,” said Sean Preston, Visa Country Manager for Vietnam, Cambodia, and Laos. “This is reflected in the results of our survey, with people taking more trips and spending more, while technology is giving travelers the ability to take trip planning and booking into their own hands. We’ve also seen really positive developments in card usage, with Vietnamese travelers relying heavily on their credit and debit cards for booking hotels, flights, and activities before embarking on their trips.”

 

Tips for Stress-Free Payment While Traveling

  • When paying by card, pay in “local currency” for a competitive exchange rate.
  • Use a credit or debit card for purchases. Visa offers security, convenience and ease when paying abroad. It is safer than carrying cash, backed by Visa’s Zero Liability Policy1, which states accountholders won’t be held responsible for unauthorized charges on their account.
  • Whenever possible, pay through a chip-activated terminal when using your credit or debit card for enhanced security.
  • Look for the Visa or PLUS logo at any point-of-sale terminal or ATM to ensure international payment cards are accepted. Exercise caution on your surroundings and do not leave valuables and ATM receipts behind.
  • For more information about Visa’s Global Travel Intentions Study visit Visa.com/TravelStudy.

 

 

1 Visa's Zero Liability Policy does not apply to Visa corporate or Visa purchasing card or account transactions, or any transactions that are not processed by Visa. For specific restrictions, limitations and other details, please consult your issuer.

 

About Global Travel Intentions 2017

The Global Travel Intentions Study analyzes travel behavior and tourism spending patterns of global travelers. A comprehensive study monitoring and analyzing international travel trends and consumer travel behavior, the Study is part of Visa’s continued commitment to helping industry players in their pursuit of growth in the global travel and tourism industry. Visa’s GTI Study was conducted in conjunction with research and business intelligence firm ORC International and collected data over the course of 15,523 interviews in 27 markets. Visa has been conducting this biannual study since 2008. Where possible, trends are shown.

About Visa Inc.

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere.  As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit usa.visa.com/aboutvisa, visacorporate.tumblr.com and @VisaNews.