Manila, 1 April 2024 – Visa, a global leader in digital payments, has published its most recent Green Shoots Radar study. This quarterly report analyzes consumer sentiments across various sectors, such as financial services, commerce, and travel. The study reveals a surge in travel frequency among Filipino travelers. According to the data, 24% of surveyed Filipino respondents have traveled overseas for leisure or business purposes in the past year. This trend aligns with a broader travel resurgence across Asia Pacific, with 37% of those surveyed reporting overseas travels within the same period.
Japan emerged as the top leisure destination for Filipino travelers, with 32% visiting in the past year. Singapore (22%) followed by Hong Kong (21%) and Thailand (18%) were the next most popular destinations. For business trips, Singapore led the list with 25%, followed by Japan (23%), and the United States tied with Hong Kong at 18%.
Filipino travelers prefer to book flight tickets directly from the provider’s website (44%). Among those respondents who booked their accommodations through Online Travel Agencies and paid the full amount upon booking, using credit cards is the most popular payment mode (41%), followed by mobile/e-wallets (28%).
Jeff Navarro, Country Manager for Visa Philippines, said, “As cross-border travel gains momentum in the Philippines and the region, we have a significant opportunity to maintain visibility throughout travelers’ journeys. This involves being present during destination searches and bookings, using Visa cards on travel apps for smoother transactions, and engaging consumers with authentic travel and shopping content to create a secure and seamless digital payments experience for everyone, everywhere.”
The future of travel remains promising, with 65% of Filipino respondents planning overseas leisure travel in the next 12 months. The top three leisure destinations intended in the next 12 months are Japan (38%), followed by South Korea (29%) and Singapore (16%). For business travel, Japan (19%), Canada (13%), and South Korea (12%) are the most likely destinations.
According to Visa’s Global Travel Intentions 2023 study, majority (89%) of Filipino travelers used credit (44%) and debit (39%) cards when travelling, for the benefits of cards’ wide acceptance (56%), accepted at ATMs (49%), and ability to be used both online and within apps (43%).
Visa’s most recent Consumer Payment Attitudes 2023 study data also reflect cards as the preferred mode of payment when travelling, where 25% of surveyed Filipinos use credit or debit cards online and 21% use via swipe or insert when traveling overseas.
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