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Singaporeans Tightening Purse Strings but Willing to Splurge on Travel

May 12, 2016 Hotel Trends No Comments Email Email

Amidst fears of a softening global economy, Singaporeans are still willing to splurge on travel according to a study by Wyndham Hotel Group’s loyalty division, Wyndham Rewards.

In the study based on 2,039 respondents from Singapore, 68 per cent were looking for opportunities to save and have stated that they would be increasingly cost-conscious in their personal financial outlook for 2016.

However in spite of their careful expenditure this year, 81 per cent said they would still travel about the same or more than the previous year, with 36 per cent willing to spend half of their discretionary spending budget or more on travel.

Barry Robinson, President and Managing Director of Wyndham Hotel Group South East Asia and Pacific Rim said this was great news for the travel trade and would help in supporting countries reliant on the service and consumer industries.

“We expect outbound tourism to continue to increase as travel is becoming an integral aspect of the average Singaporean’s lifestyle. This trend is further stimulated by the country’s world-class infrastructure such as the award-winning Changi Airport connecting locals to 300 destinations worldwide, increased flight routes by low-cost carriers and the appreciating value of the Singapore Dollar,” Mr Robinson said.

Wyndham Hotel Group has a portfolio of 89 managed and franchised properties in South East Asia and Pacific Rim and more than 13 hotels are slated to open across the region this year. The hospitality giant has placed its focus on accelerating its midscale and economy brands such as Ramada® and Days Inn® brand to meet growing demands. The development strategy corresponds with the group’s research findings where travellers chose midscale hotels as their preferred choice for accommodation followed by economy hotels.

The survey also found 44 per cent of respondents were planning for a once-in-a-lifetime international trip and a third of them were intending to travel domestically around the region in 2016.

“We have an extensive network of hotels and resorts across the globe and with our revolutionary loyalty program Wyndham Rewards; our guests will enjoy the best value and benefits when they travel with us.”

The new Wyndham Rewards loyalty program was launched last year and revolutionised the loyalty landscape with a simple program which allows members to earn more and redeem free stays faster than any other program in the industry. Wyndham Rewards is a simple-to-use loyalty program with a generous points earning structure that can be used to redeem free nights, along with hundreds of other rewards options including travel expenses and gift cards.

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