Credit Card Supremacy In International Travel, 95% Indians Prefer It When Going Abroad: Study

Among Indian consumers, international destinations like Australia, the UAE, the US, and Canada remain top preferences. Various offerings like travel miles, cashback, rewards, high acceptance, foreign exchange rates, and high spending limits remain the key factors that drive international card usage, according to a new report.

The ‘Global Travel Intentions Study 2023’ by Visa, a global digital payments services company, captured Indian travel behaviour. The report presented insights from a global survey by 4SiGHT Research & Analytics.

The study stated that 95% of Indian travellers intend to use credit cards at international travel destinations to make their experience seamless. 99% of travellers prefer to use cards (including credit, debit and prepaid) during their international travels.

The study identified sustainability, infrastructure, and experiential travel to be key drivers of the sector. 86% of individuals are highly interested in eco-friendly and sustainable travel and offerings and 60% look for such options actively.

Some prominent trends in the travel and tourism industry per the GTI study by Visa are listed below:

• Infrastructure is important to 65% of individuals.
• 43% say destinations promoting sustainable initiatives would encourage them to travel sustainably
• 75% prioritise the social environment (including good environmental practices and safety) while choosing a destination. 73% of individuals look forward to local cultural experiences
• 86% of travellers prefer hotels, 30% prefer bed and breakfast set-ups, and 24% prefer hostels as accommodation choices
• 70% of travellers choose a destination based on leisure activities available, like entertainment and activities (35%), shopping options (27%), and local food and dining options (26%)
• Relaxation has been the main driver for travel (26%) and remains the top motivation (51%) for the next trip as well.

Sridhar Keppurengan, business head of cross-border payments, India & South Asia, Visa, said, “It’s clear that cards are persistently simplifying cross-border transactions, emerging as the favoured choice for consumers seeking to amplify their overall travel experience, particularly for those journeying outbound from India. Consumers are increasingly wanting to substitute cumbersome procedures with secure, safe travel experiences. The security offered by a trusted brand’s card, and the convenience of the widest global acceptance remain paramount, effectively removing complexities associated with exchanging and carrying the foreign currency.”

Visa has been executing the Global Travel Intentions (GTI) study biennially for over a decade. The study equips Visa and its partners with an in-depth understanding of travel and payment behaviours, along with a robust view of emerging trends in the travel landscape.