Banking data reveals huge amount Aussies are spending on overseas travel

Banking data reveals huge amount Aussies are spending on overseas travel

Banking details have revealed the huge amount Aussies are spending on overseas travel, with the sum already more than pre-pandemic levels.

Australians are spending more money on overseas travel than pre-pandemic levels as the industry bounces back, according to new banking data.

NAB’s latest banking insights have revealed customers spent $46 million on international flights, accommodation, car rentals, cruises, trains, tours and travel agents in May alone, the largest monthly amount in three years.

Comparatively, customers spent only $43 million on international travel plans in May 2019.

Between January and May 2022, customers spent $157 million on overseas travel, almost 600 per cent more than the same period last year.

Paul Riley, NAB’s Everyday Banking executive, said the data showed Australians were ready to explore now that borders had opened.

“For many Australians it has been two years without international holidays, visiting overseas family and celebrating major milestones like weddings,” Mr Riley said.

“Australians are known for their love affair with seeing the world. We expect to see spending on overseas travel continue with the school holidays starting later this week and the European summer now underway.”

According to monthly figures from Tourism Australia, 758,000 international visitors arrived in Australia in April.

Those numbers are down 92 per cent relative to April 2019 but up 940 per cent compared to April 2021.

In March, there were 235,000 international visitors who arrived in Australia – down 66 per cent relative to April 2019.

Those figures were up 940 per cent compared to the year ending April 2021.

.

Leave a Comment

Your email address will not be published.