With a weaker Australian dollar and increasing travel costs, two-thirds (66%) of Aussie travellers say they’ll either cut back on holidays or seek travel deals to save money in the next 12 months. And advisors are ideally placed to match Aussies to the best offers.
The new Insure&Go survey also found almost half (47%) of respondents will lock in cheaper airfares, 30 per cent will search for bundled packages for added value and 20 per cent will look for last-minute travel deals to secure savings for their holidays.
The weaker Australian dollar means Aussies get less bang for their buck on exchange rates and purchases in popular overseas destinations, such as the UK, Europe and the US right now.
Despite airfares and accommodation prices also increasing, the appetite for travel remains strong with just 25 per cent of Aussie travellers willing to cut back on the number of trips.
However, they are looking for travel bargains to stretch their holiday dollar further, such as bundled flight and hotel deals, airfare sales and last-minute booking discounts.
Advisors can lean into this shift by showcasing the latest deals and offers and highlighting overseas destinations that provide the best value for flights and accommodation to Aussie travellers right now.
The survey shows cost is the highest priority with 69 per cent willing to forgo flexibility to save money, particularly among Gen Z travellers.
Over-50s are less likely to change their travel plans due to costs with 35 per cent indicating they won’t change their plans, compared with 28 per cent of under-50s.
