The weekly news roundup: Visa’s report on future of global travel and tourism, two new partners for Sabre, PayPals’s new merchants in APAC
VISA SURVEY: Singapore households projected to be world’s 7th top overseas travel spenders by 2025
Travellers aged 65+ will make an estimated 180 million trips by 2025. (Image credit: ViewApart/iStock)
International travel among Singapore households are expected to double to about US$45 billion by 2025, placing it as the seventh highest travel spenders globally and top three in Asia Pacific (APAC), according to Visa’s ‘Mapping the Future of Global Travel and Tourism’ report.
Data from the survey showed the estimated average annual spend on overseas travel per Singapore household will be US$30,230 by 2025. This is almost six times the APAC household average of US$5,230 and the global average of US$5,309.
In APAC, China (US$255 billion), Hong Kong (US$47.4 billion) and Singapore (US$44.9 billion) will be the top markets with the largest outbound travel spend. (see chart below)
However, emerging markets like Indonesia, Vietnam and India are likely to experience the sharpest increases in spending at 211%, 132% and 101% respectively.
“Travel continues to be a staple activity amongst Singaporeans. The increasing popularity of online travel portals and mobile travel apps, coupled with more convenient and secure electronic payment options, will allow travellers to book their next travel destination with greater ease and lead to continued growth in international travel,” said Ooi Huey Tyng, Visa country manager for Singapore and Brunei.
The report also found that by 2025 travellers aged 65 and above (seniors) will make an estimated 180 million trips, more than double their current international travel and accounting for one-in-eight international trips taken.
The study predicts that older travellers wil be able to afford longer trips that provide greater comfort, and at higher prices. Trends such as “medical tourism”, in which aging populations undertake international travel for medical purposes, will also become more popular in the future.
In Singapore international travel among seniors is expected to grow by more than 300% to over three million trips by 2025.
Singapore citizens aged 65 and above are currently taking an average of 1.31 outbound trips per person each year. By 2025 this number is expected to increase to 2.84.
In Southeast Asia, the Philippines is the only market with a higher projected growth rate in international travel by senior than Singapore – at 360%.
Ooi noted that many senior travellers have the time, money and interest to explore new and unique destinations.
“As one of the fastest growing tourism sectors in the region senior travel brings tremendous opportunities for merchants in the tourism and hospitality industries. Singapore is a key aviation hub and is an extremely well-connected city, so travelling abroad is relatively easy, driving an increasing desire for more trips and higher spending.”
• Download full report of ‘Mapping the Future of Global Travel and Tourism’
TRAVEL TECHNOLOGY: Sabre collaborates with Adyen and Routehappy, more solutions for aviation industry
Airline passengers can pay in their preferred way from anywhere in the world. (Image credit: Pinkypills/iStock)
Sabre has formed partnerships with Adyen and Routehappy to offer solutions for seamless payments with airlines and provide travel agents with ‘intelligent’ airline product content in flight search
Its partnership with global payments technology company Adyen, through Sabre Airline Solutions, provides its airline customers with a single global payments solution to accept payments from anywhere in the world.
Adyen said as it supports 250 payment methods and 150+ currencies. This enables airlines that work with Sabre, such as Aeromexico and Vietnam Airlines, to give passengers the option to pay in their preferred way no matter where they are located.
Airlines can also leverage Adyen’s extensive payment data and advanced technology to drive conversions.
The company added that its integrated risk management solution, which includes Dynamic 3D Secure, could help airlines keep fraud to a minimum while reducing friction for genuine customers.
Airlines can also outsource much of the workload associated with PCI Compliance with its solution, said Adyen.
Sabre’s partnership with Routehappy, the merchandising content platform for flight shopping, integrates the rich airline content from Routehappy Hub into its booking platforms.
This is the first time Routehappy is integrating with a GDS – the Sabre travel marketplace.
The agreement makes Routehappy Hub a primary source of airline content available to agents when shopping, checking for availability, and pricing branded fares in the new Sabre Red platform.
The collaboration also allows agents to see Routehappy Hub’s merchandising content by aircraft, class of service, airport, route and fare.
Sabre said the collaboration would help travel consultants, who need more relevant information to advise travellers on the growing range of airline amenities and featured products.
“Traveller expectations have evolved to where they are looking for complete information about their travel experience and these expectations are shaping airline merchandising and agency retailing,” said Wade Jones, senior vice president of marketing, Sabre Travel Network.
DIGITAL PAYMENTS: New travel merchants in Asia Pacific for PayPal
Centara Ceysands Resort & Spa Sri Lanka is onboard with PayPal. (Image credit: Centara Hotels & Resorts)
Global digital payments provider, PayPal, is partnering with new travel merchants in Asia Pacific comprising airlines, hotel groups and travel aggregators, to enable seamless online payments for travellers.
They include Cathay Airways, Thai Airways, Centara Hotels & Resorts, Henann Resorts in the Philippines, Tsuraga Group and Rusutru Resort in Japan, and OTAs – Best Jet and OYO Rooms.
According to a 2015 research by PayPal, 60% of Singaporeans surveyed made travel-related purchases online.
“With the addition of PayPal’s latest travel merchants, holiday seekers are now able make that dream holiday a reality with close to 40 travel merchants to choose from,” said PayPal in a statement.
It added that its customers’ eligible online transactions are also covered by Buyer Protection “even for intangible goods such as travel tickets and accommodation.”
• Featured image credit: shansekala/iStock