HONG KONG, Jan. 15, 2014 /PRNewswire/ -- Travelzoo Asia Pacific, a licensee of global Internet media company Travelzoo Inc. (NASDAQ: TZOO), today announced that its annual subscriber survey findings showed that the Asian travel appetite in 2014 will get stronger, with a forecasted increase of 17 percent in travel budgets over last year's. The results also highlighted transformations in the vacation spending patterns of Mainland Chinese travelers, with the majority willing to spend more for upgrading their holiday experiences and high-end accommodations.
The survey is an annual initiative by Travelzoo to map changes in travel attitudes across Asia Pacific, while providing a benchmark for the regional travel industry. It was conducted in collaboration with WIMI, a consumer insights consultancy firm, from November 24 to December 15, 2013. Over 3,400 Travelzoo subscribers from Australia, China, Hong Kong, Japan and Taiwan participated in the study.
The study revealed that Travelzoo Mainland Chinese subscribers will continue to lead the region in travel frequency, taking an average of 6.5 leisure trips and spending an estimated USD 8,200 on average in 2014. This is followed by the Japanese with 5 leisure trips and an average spend of USD 4,800; the Taiwanese with 4.4 leisure trips and an average spend of USD 6,170; and Hong Kong travelers with 4.3 leisure trips and an average spend of USD 6,900. Australians will travel the least, with an average of 3.5 leisure trips in 2014. However, they will fork out the most for their vacations, at an average spend of USD 9,340.
The study also pointed to Asian travelers' preference for independent travel and high-quality holiday experiences. When respondents were asked what best describes their attitude towards leisure travel, 62 percent of Travelzoo Asia Pacific subscribers prefer to explore at their own pace and 54 percent view rest and relax as key to their holiday experiences. Almost half of the respondents surveyed will focus on improving the quality of their vacation, spending more on hotels, food and entertainment, and less on shopping. The figures for Mainland Chinese travelers were reflected strongly in these trends, with 75 percent wanting to rest and relax during their vacations, 62 percent spending more for upgrading their holiday experiences, and 56 percent preferring to explore at their own pace.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts