Data from Visacard shows that only 31pc of tourists in Asia Pacific brought cash to their destinations in 2023, down from 79pc in 2020. This represents a significant shift towards digital payment methods and highlights consumers’ growing reliance on credit, debit, and prepaid cards.
Travelers are spending more on their trips, with an average expenditure of $2,525 per trip in 2023. This amount has seen a significant jump from $1,708 in 2020, indicating an increase in travel budgets.
The survey shows that Asia Pacific travellers prefer using credit, debit, and prepaid cards as their preferred payment method. Factors such as wide acceptance by merchants, travel security, and favourable foreign exchange rates contributed to the growing adoption of digital payment methods during travel.
