After rebounding from the pandemic, the travel industry is facing further setbacks as holidaymakers face cost-of-living concerns.
Cost-of-living concerns impacting Aussie travel plans
Four in five Australian holidaymakers are reconsidering their travel plans due to the rising cost of living.
Research conducted by YouGov found while 87 per cent of Australians planned to travel at some point this year, 83 per cent said they would need to rein in spending.
The rising cost of living and spiralling inflation has led to 48 per cent of people being less likely to travel overseas in the next 12 months, while 37 per cent are less likely to go interstate.
For those still travelling, almost half would book cheaper accommodation, while 36 per cent would take a shorter trip and one in 10 wouldn’t take out travel insurance.