Strong Dollar Isn’t Influencing Habitual Non-Travelers to Visit Europe
Skift Take
Although the strengthened U.S. dollar against the Euro holds a lot of promise for a busy and fruitful summer tourist season in Europe., the rising dollar hasn’t swayed Americans’ Europe travel plans, a new survey from PayPal found.
When PayPal asked 1,000 U.S. adults “Are You Considering Taking a Trip to Europe Because of the Strengthened Dollar,?” 79% indicated “No.” But this is somewhat misleading given that 71% of respondents said they hadn’t traveled abroad during the past five years (29% said they had) and a stronger dollar alone wouldn’t make this population more apt to plan a foreign trip.
About 21% of respondents still said “Yes” to having European trip plans this year, meaning many Americans notice the more favorable currency exchange rate. More people in Northeast and Western states, 23% and 29% respectively, said they’re considering a European trip compared to those living in other parts of the U.S.
Skift reported earlier this month that U.S. hoteliers and destination officials are optimistic about a healthy summer tourist season.
Keeping Money Safe While Abroad
In the new age of mobile payment platforms such as ApplePay, Google Wallet and PayPal-owned Venmo, travelers’ spending habits while abroad and how they’re carrying their money haven’t yet gravitated toward these newer and more secure methods, the survey found.
Some 51% of respondents said the security of their credit and debit cards is the most concerning financially related aspect of traveling abroad. Yet, 50% of respondents feel credit and debit cards are the most secure payment options while abroad. Only 4% feel digitally secure options such as PayPal and ApplePay are the most secure methods.
Interestingly enough, the number one thing respondents said they do to keep money safe while abroad is to keep money in the hotel safe (38%) and 36% said they wear the prized fanny pack or neck wallet.
When Traveling Abroad, How Much of a Concern is Each of These?
| Big Concern | Little Concern | No Concern | |
|---|---|---|---|
| Credit/Debit cards | 51% | 34% | 15% |
| Security of my money | 48% | 40% | 12% |
| Security of financial info | 44% | 41% | 15% |
| Transaction fees for credit cards | 32% | 48% | 20% |
| Transaction fees for ATMs | 31% | 44% | 25% |
| Exchange rate differences | 25% | 46% | 30% |
| Splitting the bill with others | 14% | 22% | 64% |
Which Payment Options Make You Feel Most Secure When Traveling?
| Payment Option | % Travelers Feel Secure |
|---|---|
| Credit/Debit cards | 50% |
| Cash | 25% |
| Travelers Checks | 13% |
| Digitally Secure Options (ApplePay, PayPal, etc) | 4% |
| Don’t Know | 7% |
Source: PayPal
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