APAC Travel Trends: Why They Book and Where Cash Still Rules
In recent years APAC travel trends have become a focus for researchers and travel companies. The evolution of travel preferences from the Asia-Pacific region (APAC) offers many opportunities for study and analysis. In this context, we look at what influences the booking decision and why cash still plays an important role in the travel market.
Reasons for booking trips
The search for new experiences, the desire to explore cultures and improve quality of life are the main reasons why APAC travelers actively book trips. The results of the study conducted by World Tourism Organization (UNWTO), show that 67% of the people surveyed from APAC noted that travel improves the quality of life.
Among the main factors influencing the booking decision are:
- Affordability: The proliferation of low-cost airlines has made travel more affordable.
- The influence of social media: Over 70% youth in APAC make travel decisions based on information from Instagram and TikTok.
- Safety: Visitors are looking for safe and predictable destinations in the wake of the COVID-19 pandemic.
Cash is still in play
Despite the rise of electronic payments and digital wallets, cash remains important in the APC regions. A 2022 study by McKinsey found that more than 50% transactions in a number of countries, including Indonesia and the Philippines, are still made in cash. This is due to several factors:
- Lack of infrastructure: In many areas of the region, access to the internet and banking services remains limited.
- Shopping culture: In countries such as Japan and South Korea, shoppers prefer to use cash in small shops and local markets.
- Secrecy of expenses: Using cash helps travelers control their spending, especially when traveling on a budget.
Prospects and trends
Taking into account the current APAC travel trends, there are several key areas that should be addressed:
- Sustainable Tourism: More and more travellers are becoming socially responsible and choosing sustainable destinations.
- Technologies: The continued proliferation of mobile apps and booking platforms is expected to continue to change the market.
- Cross-cultural travel: More and more people in APAC are heading to lesser-known regions, seeking an authentic experience.
Understanding APAC travel trends requires deep analysis, paying attention to current trends and consumer preferences. Studying the needs and habits of travelers will allow us to better predict their expectations in the future.
With interest in unique and sustainable travel growing, it’s important to reiterate that cash is still relevant. Travel brands need to consider these factors to remain competitive and successfully engage with this dynamic audience.
