Holidaymakers are set to splash out more than $9.6 billion on Easter travel this year, up $500 million on 2023 (5%), with a significant amount to be spent on overseas trips at the expense of domestic spending.
According to new research by the Australian Retailers Association (ARA), in collaboration with Roy Morgan, approximately 4.45 million Australians (20% of the population aged 18+) plan on taking a holiday over the Easter period – 200,000 fewer than a year ago.
Of the Australians going away this Easter, 53% will travel within their own state, spending $2.3 million (down $500 million or 17%), 34% will go interstate, spending $3.5 million (down $100 million or 2.8%) and 13% overseas, spending $3.8 billion (up $1 billion or 26%).
Those who have the cash to spare are spending more, with the average spend on Easter holidays tipped to be $2,053 – up $133 or 7% on 2023.
ARA CEO Paul Zahra said whilst a strong result, the overall spending has been bolstered by an increase in overseas travel.
“Whilst overseas travel only accounts for 13% of holidaymakers’ plans, it makes up $3.8 billion of the overall spend,” Mr Zahra said.
“This of course comes at the cost of domestic spend, which is down $600 million on last year. Overall holiday spending has increased, but Australian businesses, for the most part, won’t be the beneficiaries.
“Local retailers in popular holiday destinations will reap the benefits of the domestic tourism spend, however, it won’t be as significant as last year.
“As we’re further removed from the pandemic compared to last year, there is less concern about international travel – so we’re seeing a significant increase.
“While less Australians are holidaying, the overall spend is higher – those who have the money to spare and are less affected by the cost-of-living crunch, are still splashing out.”
Other highlights from the research includes:
• Over 70% of those planning an Easter holiday are aged 18-49, while nearly one third are aged 50+.
• Over two-fifths of Easter holidaymakers plan on spending $2,000 or more on their holiday.
• Queenslanders are set to spend an average of over $2,800 on their Easter holidays ahead of Victorians at around $2,200 and those from New South Wales at over $2,000.
ENDS
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