International travelers plan to spend more next time they take a trip and they are increasingly leaving cash behind and using credit cards to fund their vacation splurges, according to the Global Travel Intentions Study commissioned by Visa.
People heading to foreign destinations are ready to shell out more on their next adventure—40% more than last time they traveled internationally. And more people are packing plastic with their toothbrush, citing ease of use and concerns about security and overspending. Four out of five survey respondents said they prefer to use a credit card instead of cash when traveling.
Favorite places to pull out those cards include restaurants and shops–29% of travelers say dining takes up the majority of their vacation budget while 24% say shopping accounts for the bulk of their spending.
Acting as their own travel agents
Travel agents have gone the way of dinosaurs with four out of five respondents booking their own trips online rather than relying on one.
For the 79% of people who go to the Internet to plan their vacations, travel review sites are indispensable. They browse multiple service provider websites, and say the decision to book through one site over another comes down to price. They are also influenced by other travelers. More than half take online reviews by fellow travelers into account.
When planning their travels, more than half of folks surveyed use online reviews to guide them, and 38% say that a destination rich in cultural experiences is at the top of their priority list. About a third said the weather is a major factor in choosing a vacation destination. They also like to stay close to home, which is why Mexico was one of the top foreign destinations for U.S. travelers.
The study was conducted at the end of last year and included responses from 12,631 people over 18 from Asia, Africa, Europe, North America and South America.