Rebound in spending on travel seen among Middle East consumers, according to Mastercard survey

Intraregional travel continues to be popular among consumers who plan to spend on travel in the Middle East (57%), with the majority of them planning trips within the region in the upcoming months. The top destinations for UAE consumers who plan to travel are Egypt (as indicated by 32% of consumers), followed by Lebanon (by 15% of consumers) and the United Kingdom (13%).

The latest survey involved 10,503 consumers from 24 markets. Data collection was via internet surveys, personal, telephone and Computer Aided Telephone interviews, with the questionnaire translated to the local language wherever appropriate and necessary. The Index and its accompanying reports do not represent MasterCard financial performance.

Of the 24 markets surveyed, respondents in Kuwait (71%) topped the list of consumers planning trips abroad, followed by Hong Kong (56%) and the UAE (52%). In the Middle East, apart from those in Kuwait , consumers from the UAE (52%), Qatar (34%), Saudi Arabia (30%), and Egypt (20%) are looking forward to holidays abroad. However, only 8% of Lebanese consumers plan to spend on holidays abroad in the coming months.

"Personal travel is an important priority for many consumers in the Middle East, as the MasterCard survey revealed that spending on travel is set to rebound. This rebound coincides with the busy summer travel season and the upcoming Eid holiday period," said Eyad Al-Kourdi, vice president and country manager, UAE, MasterCard Worldwide

Other key findings from the survey include:

Middle East

- The majority of consumers in Kuwait (58% of consumers surveyed) are saving for a holiday abroad. This is higher than the other markets, where consumers are saving for items such as the purchase of a car/motorcycle, buying or renovating their homes, and for investing.
- Among the Middle Eastern markets, Kuwait (71%), UAE (52%) and Qatar (34%) boast the highest number of respondents looking to spend on traveling abroad in the upcoming months.
- Top five destinations for travelers in the Middle East: Egypt (as indicated by 28% of respondents who plan to spend on travel in the coming months), UAE (21%), Saudi Arabia (16%), Syria (14%) and Lebanon (13%).
- International personal air travel is deemed as very important or important to 90% of the respondents in the Middle East who plan to spend on travel.

Asia/Pacific

- Many in Hong Kong (50% of consumers surveyed), New Zealand (45%) and the Philippines (43%) are saving to take a holiday abroad.
- Among the Asia/Pacific markets, Hong Kong (56%), Singapore (48%) and New Zealand (40%) boast the highest number of respondents looking to spend on traveling abroad in the coming months.
- Top five destinations for Asia/Pacific travelers: Japan (as indicated by 24% of respondents who plan to spend on travel), Australia (20%), China (20%), Hong Kong (17%) and the United States (17%).
- International personal air travel is deemed as very important or important to 58% of the respondents in Asia/Pacific who plan to spend on travel in the coming months.

Africa

- Among the African markets, Morocco (24% of consumers surveyed) has the highest number of consumers saving for a holiday abroad.
- Morocco (24%), Egypt (20%) and Nigeria (18%) boast the highest number of respondents looking to spend on traveling abroad.
- Top five destinations for travelers in Africa: the United States (as indicated by 27% of respondents who plan to spend on travel in the coming months), France (26%), Saudi Arabia (22%), Canada (17%) and Turkey (14%).
- International personal air travel is deemed as very important or important to 81% of the respondents in Africa who plan to spend on travel.

MasterCard and its Suite of Research Properties

MasterCard puts out a series of ongoing consumer surveys and research Indices in the Asia/Pacific, Middle East and Africa. These include the MasterCard Survey on Consumer Purchasing Priorities, the MasterCard Worldwide Index of Consumer Purchasing Resilience, the MasterCard Worldwide Index of Consumer Confidence and MasterCard Worldwide Index of Women's Advancement.

Besides these, MasterCard also regularly releases its Insights reports; the series is part its ongoing research and analysis of business dynamics, financial policies and regulatory activities in the Asia/Pacific, Middle East and Africa region. Over 70 Insights reports have been produced since 2004.

MasterCard has also released a series of four books on Asian consumer insights, authored by its Asia/Pacific economist, Dr. Yuwa Hedrick-Wong and published by John Wiley & Sons.