Overseas wanderlust burns bright for Kiwis
TransferWise, the global technology company enabling you to move money internationally, has released new independent research showing that New Zealanders are itching to travel overseas despite the global impact of COVID-19.
More than a quarter of New Zealanders think a travel bubble should be extended to all countries that are reporting zero cases of COVID-19 and a further 16% think we should open the bubble to all countries with controlled community transmission.
It is clear Kiwis don’t want to wait before heading for the departure lounge. More than a third of Kiwis say they’re likely to travel internationally in the next 12 months if they don’t have to quarantine for two weeks upon their return, with a further 10% stating they’ll travel regardless of self-isolation requirements.
COVID-19 put a halt to many travel plans with nearly half of New Zealanders forced to cancel or postpone overseas trips. However, one in ten are still hoping they will be able to resume their travel plans by the end of the year.
Most Kiwis want to travel to Australia and the Pacific Islands (55.8%) while Asia (32.4%), Europe (28.8%) and North America (18.3%) remain popular options.
TransferWise Country Manager Tim Cameron says: “We all know Kiwis love to travel and it doesn’t look like COVID-19 changes this. However, once borders begin to open up it looks like some trips will be quite different with 39% saying they will reduce their travel spending. What we found particularly worrying is that 55% of Kiwis don’t fully understand what fees and charges are involved when it comes to getting travel money.
“Consequently, our data shows that almost 60% of New Zealanders use their regular bank credit or debit card when travelling, because it’s the most convenient (67%) method for them, however, this convenience coupled with a lack of understanding on the true cost associated with using bank cards abroad, is costing Kiwis dearly. “We’re calling on the New Zealand authorities to enforce transparency in the banking sector so Kiwis can make informed decisions when choosing how to spend their money overseas,” says Cameron.
For more information on the TransferWise debit card which lets users spend anywhere in the world at the real exchange rate, head to: https://transferwise.com/nz/multi-currency-account/#card