Travel worth the squeeze

While household budgets may be getting tighter, Australians aren’t quite ready to give up their holidays.

According to new research from Skyscanner, almost eight in 10 Australians are willing to cut back on at least one everyday expense to help pay for a holiday.

What’s more, seven in 10 of those surveyed say travel is worth the financial sacrifice, while half say they don’t feel guilty about spending money on a holiday.

But while our appetite for travel remains strong, the way we go about it appears to be changing.

Rather than skipping holidays altogether, Australians are becoming more selective about where, when and how they travel.

Almost half (45 per cent) would consider shortening a trip to bring down the cost, 39 per cent are prepared to be flexible with their travel dates, while 35 per cent would sacrifice flight convenience for a better deal.

Others are changing the holiday itself, with almost 30 per cent opting to travel closer to home to help manage costs rather than heading overseas.

Flexibility appears to be key to making travel budgets stretch further, with 94 per cent of those surveyed saying they are willing to adjust their plans to secure a better price.

That might mean travelling outside peak periods, booking well ahead, waiting for travel deals or simply allowing a good airfare to decide where they go next.

Skyscanner travel expert Jarrod Kris says the research reveals a shift in the value travel holds in Australians’ lives.

“What’s striking is how Australians are prioritising travel and finding ways to make their budgets work harder,” he says.

“With value front of mind, people are looking for smarter ways to book so they can continue to make travel part of their plans.

“It’s no longer just about cutting back on everyday extras and setting money aside for a trip. This year’s data shows that behaviour is evolving, with Australians becoming increasingly strategic about how they travel.

“They’re comparing prices, travelling during more affordable periods and staying flexible on dates and destinations. It shows that travel continues to hold an important place in how Australians choose to spend their money.”

For those prepared to shop around, Skyscanner’s latest data points to some substantial airfare savings for the next few months, especially when compared to this time last year.

For example, return economy fares from Australia to Bangkok were available from $438 when the data was collected, down 63 per cent year-on-year. Auckland fares started from $426, down 45 per cent, while Hong Kong was available from $621, down 23 per cent.

Among popular destinations, fares to Tokyo were 20 per cent below the average seat price, while London was 24 per cent lower.

So, while the cost-of-living squeeze may be changing the way many Aussies holiday, it doesn’t appear to be stopping them. Instead, people are getting better at finding ways to make their holiday happen within their budget.