A survey published by Visa this week shows that Singaporeans are affluent, love their travel, and love their credit cards!
We’ve been saying this for months, so it’s great to hear somebody else saying it for a change. It all forms part of the global credit card giant’s Global Travel Intentions survey, a country-by-country breakdown of how each country’s citizens use their money abroad. And for Singaporeans, it’s a rosy picture. According to Visa, our well-off travellers plan to outsepend fellow travellers from surrounding countries, and we’re very attached to our top-of-the-range mobile devices. Singaporeans like to keep in touch with their mobile banking while travelling, and find that banking apps on their phones are critical, just as long as they can find an internet connection.
Amazingly, our travellers and holiday makers remain in constant contact with the outside world, with four fifths continuing to use email, instant messaging and mobile apps while supposedly on holiday. In fact, when travelling abroad, it’s the financial apps that get most attention as travellers worry about their finances. With bolder travel cohices, and more people preferring to journey beyond the south-east Asia region, the correct choice of credit card is as vital as ever. Many long-distance travellers now know that it’s important to have a card with an in-built chip these days when travelling abroad, and especially to Europe. While these are emerging in our own market, chip cards make up virtually 100% of the market in countries such as the UK. Your non-chip card will still work, as most point-of-sales terminals still maintain a swipe capability, but you’ll be at a certain inconvenience.
With an amazing selection of travel oriented credit cards to choose from, the Singaporean traveller is almost spoiled for choice. As usual, our advice is to compare the market carefully and choose the one that offers you the best benefits for the annual fee. Choose according to which airline you intend to fly, where you’re going, and which one is more likely to be of benefit in your chosen destination.
With Singapore’s travellers being bolder and spending even more than ever on travel, the right credit card is a vital choice.
Article by Jason Taylor – [email protected]