Tourism

STUDY: Nearly one-third of Aussies suffer money woes while on holiday

From lost cash to poor budgeting and hidden fees, new research has revealed that almost one-third of Australian travellers experience problems with money while overseas.

The study, conducted by Mastercard, found that 31 per cent of Aussie travellers have suffer money woes when abroad.

Almost one in 10 have been left out of pocket every time they go away, with the average traveller losing out on around $500 due to poor budgeting, unknown transaction fees, and lost and stolen cash.

Despite Aussies’ love for heading overseas, 26 per cent return home with travel money regret, according to the study.

Lack of understanding of currency conversions (39 per cent) was the top reason why travellers experienced money regret, followed by getting caught in holiday mode (31 per cent), not tracking spending (24 per cent), and poor planning (25 per cent)

The study also found that while 37 per cent of Aussies admit to being balanced with their spending overseas, 10 per cent are impulsive and reckless.

And although 16 per cent of Aussies organise their travel money as soon as their overseas trip is booked in a bid to avoid the unexpected, 20 per cent are leaving it down to the wire, only a week before travel, and three per cent arrange their travel money while at the airport.

A popular destination for Aussie travellers, Asia is also the most common for their money woes (43 per cent), followed by the UK (11 per cent) and the US (10 per cent).

SEE WHAT PEOPLE ARE SAYING

Leave a Reply

You must be logged in to post a comment.

Hotels

Motel operators fined $280k for underpaying workers

by Christian Fleetwood

An Australian hotel company has received its just desserts after being slapped with a massive fine in the Federal Court for underpaying workers.

Share

CommentComments

Wholesalers

Speculation mounts on Cox & Kings’ future

by Huntley Mitchell

It’s being widely speculated that the demise of Cox & Kings is imminent following the sudden closure of its local operations last week.

Share

CommentComments

Technology

Airbnb intends to go public in 2020, as it passes 7m listings worldwide

by Christian Fleetwood

Airbnb has announced it expects to become a publicly-traded company in 2020 after recording record revenue in the second quarter of 2019.

Share

CommentComments

Road & Rail

REVEALED: The best cities for driving holidays

Driving in a new city is, at least for us here at TW, equal parts terrifying and quite special. But that might just be because we still get lost on our way to the corner shops.

Share

CommentComments

Aviation

Aviation Wrap: Air New Zealand signs new fleet deal, Western Sydney Airport’s curfew-free promise, Emirates’ World Cup-inspired ad + MORE!

Kick-off this week’s round-up of aviation news with Emirates’ hilarious take on mid-air “fouls” as the airline teams up with famous ref Nigel Owens. All this and MUCH more awaits here.

Share

CommentComments

Wholesalers

Webjet hit hard by Thomas Cook’s demise, as Qantas called on for support

by Huntley Mitchell

Webjet has revealed exactly what impact the collapse of Thomas Cook will have on the company, and it’s not pretty.

Share

CommentComments

Aviation

Flight attendant’s heart-warming note to deaf teen

Travelling solo for the first time can be daunting at best, but for one teen flying from Baltimore to New York, the trip was particularly daunting.

Share

CommentComments

Aviation

The Veronicas threaten Qantas with legal action after being removed from flight

by Ali Coulton

It is safe to say the pop duo’s legal team will not be leaving the matter “untouched” after the five-foot-one musicians got in trouble allegedly for not being able to reach the overhead baggage bin.

Share

CommentComments

Travel Agents

Helloworld acquires Aussie travel management company for $28m

Helloworld Travel has agreed to acquire one of Australia’s largest privately-owned corporate travel management companies.

Share

CommentComments

Wholesalers

Wholesaler Wrap: Insight Vacations and Luxury Gold host inaugural awards, Globus unveils ‘Undiscovered’ tours + MORE!

Welcome back, travel folk. As per request, Travel Weekly won’t be including vicarious news in our wraps anymore – just a s**t load of deals. Psyche!

Share

CommentComments

Wholesalers

“A deeply sad day”: Thomas Cook collapses, stranding hundreds of thousands of travellers

by Huntley Mitchell

One of the world’s biggest and longest-standing travel companies has gone into liquidation, leaving an estimated 600,000 travellers in the lurch.

Share

CommentComments

Aviation

Tonga’s Rugby World Cup team breaks into song mid-flight in Japan

Passengers onboard a flight in Japan have been treated to some unique inflight entertainment courtesy of Tonga’s national rugby squad.

Share

CommentComments