Singapore's affluent travellers are demanding access to internet banking even when they are travelling, according to Visa's latest Global Travel Intentions Survey (GTI).
Conducted between November and December 2012, the survey took the opinions of 12,631 travellers aged 18 and above across 25 markets in Asia Pacific, Europe, Africa and Middle East, and the Americas. In the survey, affluent travellers are defined as travellers with household incomes equivalent to or higher than S$11,000 (US$ 8,667).
Besides having constant contact with their banks, Singapore's affluent travellers claimed that they do require access to their emails (82 percent) and instant messaging platforms (61 percent) during their travels. With such needs, it is unsurprising that this group usually brings their tech gadgets, such as tablets (53 percent) and e-book readers (14 percent), on their travels.
Travel habits of Singapore's affluent travellers
The GTI revealed that affluent Singaporeans have taken an average of seven annual trips in the last two years, as compared to the global average of three trips every two years.
In terms of travel destinations, Singapore's affluent travellers preferred destinations which offer good food (45 percent) and are known for good shopping (37 percent). These travellers are also more likely to travel to places that are far away from Singapore, as indicated by 24 percent of them flying more than nine hours for holidays, and stay for seven nights or more (37 percent) there.
Singapore's affluent travellers were found to have a preference for personalised trips that meet their individual interests. To help fulfil this, Visa now offers "bespoke travel itineraries and exclusive priviledges at luxury hotels and resorts for its premium cardholders," said Ooi Huey Tyng, Visa's country manager for Singapore and Brunei.
Based on the GTI, affluent Singaporeans spend significantly higher than the global average at medium and large retailers, high-end restaurants and on entertainment and nightlife. Forty-three percent of them used credit cards to make these transactions, as compared to the global average of 28 percent.
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