Chart of the Day: More Singaporeans plan to travel abroad in 2023
A study found that 52% intend to travel internationally next year.
A total of 52% of Singaporeans plan to travel internationally next year, up from 39% in 2022, the e-Conomy SEA 2022 report found.
The study, conducted by Google, Temasek, and Bain & Company, found Singaporeans lead in terms of intent to travel overseas, followed by Malaysians and Vietnamese.
Malaysia and Vietnam in particular saw a 135% and 98% growth after individuals planning to travel jumped from 17% to 40% and from 19% to 38% over the same period, respectively.
“On the flip side, enthusiasm for domestic travel is dipping across all consumer segments—with the exception of suburban consumers, of whom 50% more plan to travel within the country in 2023,” the report noted.
Moreover, 31% of Indonesian consumers plan to travel abroad, followed by 30% and 22% in the Philippines and Thailand, respectively.
The report noted that domestic travel is highlighted in countries such as the Philippines and Indonesia, where governments offer incentive schemes to boost domestic travel.