A new Visa study on 2017 travel and tourism trends uncovered anxiety and stress associated with getting, carrying and exchanging cash during travel.
Even though the study found most travelers still prefer to use cash when making purchases (77 percent), the trade off is increased anxiety and stress. Loss of cash is a top concern while traveling. According to the report, the average global traveler spends $1,793 per trip, yet the global median amount of cash brought to a destination is $778. Almost three-fourths of travelers acquire their foreign currency prior to departure, and only 10 percent make an ATM withdrawal once in their destination. The reason? About one-fifth of travelers cited security at ATMs as an area of concern. This is primarily true for American travelers, as travelers from Europe, the Middle East and Africa are more likely to withdraw cash at an ATM.
About 90 percent of travelers have leftover cash after their trips in the form of a foreign currency, but only 29 percent convert it back to their own currency, with an average loss of $123.
The Visa Study also noted several 2018 macro travel trends. The global average trip length is now eight nights, down from 10 nights. Trips are increasingly international, with 11 percent of international travel including multiple countries. While abroad, 88 percent enjoy online access and 44 percent use ride-sharing apps. The study found Japan is the most-visited country and Saudi Arabian travelers are the top travel spenders.
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