It seems inflation and a crumbling Aussie dollar have dampened people’s post-pandemic wanderlust, with a third of Aussies reportedly not going anywhere these summer holidays.
According to a recent Compare the Market survey, while a third of Aussies take time off and remain at home, just over one in 10 will be working through the summer holiday period.
Meanwhile, 17.2% will brave the nasty exchange rate and travel internationally this summer break.
To curb the $hocking conversion rate, 18.6% said they’re flying to other parts of Australia, 24% will go on a road trip, and 13% will go camping.
| What are your plans for the summer holidays? | Gen Z | Millennials | Gen X | Boomers | Total |
| Taking a road trip | 29.6% | 27.0% | 25.3% | 17.9% | 24.0% |
| Camping | 19.2% | 20.9% | 11.3% | 5.6% | 13.3% |
| Going on a cruise (including setting sail, boating, etc) | 12.0% | 10.8% | 7.5% | 6.0% | 8.6% |
| Flying internationally | 30.4% | 25.3% | 13.6% | 7.5% | 17.2% |
| Flying domestically | 22.4% | 26.0% | 20.0% | 9.1% | 18.6% |
| Taking time off, but staying at home | 33.6% | 32.4% | 38.9% | 29.2% | 33.2% |
| I’m working through the summer holidays | 16.0% | 15.5% | 16.6% | 8.5% | 13.6% |
| Total | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
Survey was conducted with 1005 adult Australians, October 2023.*
Compare the Market’s Head of Pet and Travel Insurance, Warren Duke said this comes as an airline extended its expiration date for COVID-19 flight credits until June 2025.
“For many travellers flight credit extension is still not enough to sway them towards air travel,” Mr Duke said.
“Rising costs have definitely put a strain on people’s purse strings this year, which could be the reason why two-thirds of Aussies aren’t flying anywhere.
“We know the price of airfares on some of the country’s popular routes has shot up by 50% since the COVID-19 pandemic.
“Meanwhile, the cost of goods are well above historical levels, over the twelve months to the September 2023 quarter the CPI rose 5.4%.
“If inflation hasn’t cancelled people’s holiday plans, it’s at least thrown a spanner in the works.
“It’s unsurprising to see so many Aussies choosing to stay home during the December break and choosing to travel domestically.”
Mr Duke warned domestic travellers that insurance could still be a good idea.
“Over the past couple of years, we have all witnessed how the unexpected can disrupt our travel plans, even when you’re travelling domestically,” Mr Duke said.
“Australia isn’t immune to lost luggage, cancelled flights, theft and the like – so travel insurance could be a smart move.
“There are tons of different policies, but most will generally cover cancellations, delays, lost luggage and unexpected rental car expenses.
“Make sure you read the product disclosure statement before purchasing and consider your needs and circumstances.”
Mr Duke’s top tips to make your dollar stretch that bit further these holidays:
Free activities
If you are planning to have a staycation at home, check out your local council’s website for free activities in your area. From going to the farmers markets to walking through an airconditioned museum – I’m sure you will find a bunch of free or low-cost activities to do.
Save money on petrol
Considering fuel was one of the most significant price rise this quarter, people should consider downloading a fuel comparison app like Simples. This will allow you to locate cheaper fuel options near you.
Cheap road trip ideas
From the seaside to the mountainside, there are plenty of low-cost or free-entry national parks, trails and hikes. Going to the beach is completely free unless you plan to stay the night, then you might need to spend a bit to buy a camping pass.
Stop at the local grocery store to pick up some food before arriving at your chosen destination. Bring your own snacks and lunches to really make the most of your money.
Alternative accommodation ideas
If camping isn’t your style, try a hostel or Airbnb. Maybe you have a friend that lives interstate – you could couch surf with them for a little while. Staying with a local means you’ll probably hit the better restaurants and curb the tourist tax.
For more information, please contact:
Natasha Innes | 0416 705 514 | [email protected]
Compare the Market is a comparison service that takes the hard work out of shopping around. We make it Simples for Australians to quickly and easily compare and buy insurance, energy, travel and personal finance products from a range of providers. Our easy-to-use comparison tool helps you look for a range of products that may suit your needs and benefit your back pocket.
