Younger Singaporeans led 50% of the overseas in-store spending increase
The US, the UK, and Australia were their top destinations during the year-end.
Gen Z and millennials led the charge in overseas transactions during the 2021 year-end holiday season, with the generation chalking up a 50% increase, according to a study by Youtrip.
The same age group also made up the majority of the first wave of international travellers, with one in two travellers aged between 20 to 35 years old. Following this were those in the 35 to 50 age range at 30%, and those above 50 at 20%.
The group also revealed that total airline bookings in both November and December jumped by 700% year-on-year (YoY), with hotel bookings and purchases on travel agencies and attractions also following suit with similar spikes of 500% and 1300% YoY, respectively.
“Singaporeans’ travel behaviour last year gave us a glimpse into the potential of the travel comeback. Undoubtedly, this has taken a temporary pause due to the tightening of borders to curb the spread of the Omicron variant, however, we’ve seen our users taking these changes in their stride with most of them going ahead with pre-planned travels to recharge and reconnect with the world,” said Kelvin Lam, Regional General Manager, YouTrip.
Youtrip also found that the top three regions for Singaporeans to visit were Northern Europe, Western Europe, and North America, with the USA, the UK, and Australia serving as the top destinations for Singaporeans in 2021.
For more on this study, the survey can be found here.