A recent customer survey, which was conducted to better understand Indian summer holiday travel plans as well as their preferences, found that 70% of respondents said they want to travel during the summer.
ZestMoney, India’s largest and fastest growing EMI finance network and Buy Now, Pay Later (BNPL), has released the survey results. About 2,000 people from across India responded to the survey, the majority of whom were millennials and Generation Z, according to a report by TravelDailyNews.asia.
According to the survey, 60% said they would travel domestically, showing pent-up demand over the past two years of the COVID pandemic. Around 40% said they were more likely to go abroad in the next three months now that COVID restrictions had been lifted.
While the majority of respondents said cost-effective travel was their top priority, many others said they were willing to spend more for the best travel experience. A large percentage of respondents, almost 63%, said they would pay for their trip via EMI/pay later alternatives, while 33% said they would use their funds to pay for it.
According to the survey, the desire to escape from everyday life, the desire to discover new things, the need to break with the routine of the previous two years and to live new experiences emerge as key motivating factors behind travel intentions. .
In addition to this, Lizzie Chapman, CEO and Co-Founder of ZestMoney, said in reaction to the survey results, “We are seeing renewed and increased interest among Indian customers, who are overcoming resistance to the pandemic and re-embracing the travels with passion. .”
Chapman went on to say that people want to make the most of their holidays now that the economy is improving and trade restrictions are lifted. EMIs/Pay Later is becoming a popular choice because it not only allows people to better organize their finances, but also to get the most out of their vacation plans, the CEO added.
Goa remained India’s most popular holiday destination: Report
The report further pointed out that Goa remained the most popular holiday destination in India during summer, while Kashmir, Ladakh and Kerala emerged as additional popular summer getaways for Indians. The list also contains Shimla, Sikkim, Andaman and Nicobar Islands, Jaipur, Agra, Ooty, as well as Dehradun.
In the case of overseas destinations, the top three preferences were the Maldives, Dubai and Thailand. Other popular overseas destinations include Europe, USA, Switzerland, UK, Turkey, Indonesia, Vietnam, Mauritius, Hong Kong and Singapore. The persistence of geopolitical tensions (especially between Russia and Ukraine), according to 65% of respondents, will not have a major influence on their plans, according to a report by TravelDailyNews.asia.
Additionally, when asked if business travel is increasing at their place of work, 60% of respondents said yes, indicating that the corporate world is returning to normal.
ZestMoney CEO Chapman said the platform has seen an incredible increase in travel transactions, with a 150% increase quarter over quarter in the March quarter. Chapman went on to say that they estimated growth for this quarter to double due to the start of the holiday season.