The travel bug epidemic is spreading like wildfire, and wealthy Singaporeans are being caught in its crosshairs.
A growing affluence and good financial habits such as saving as much as 50 percent of one’s income, are the few factors that have increased Singaporeans’ susceptibility to the travel bug. It’s no wonder that compared to their counterparts, wealthy Singaporeans are amongst the most travelled consumers in Asia Pacific, according to the new Visa Affluent Study 2015.
Singaporeans are also demonstrating their competitive streak by aiming to become the region’s most travelled, with a goal of making an average of 4.7 trips this year. The majority of travellers are also no strangers to pampering themselves, as they tend to spend lavishly on luxury accommodation such as upscale or 5-star and over hotels during their vacations. Singaporeans truly know how to live like a king.
What determines the holiday destinations of the Singapore affluent? You’ve guessed it — shopping. As hardcore shopaholics, finding retail deals are top priority while relaxing at beaches and resorts comes a close second in Singaporeans’ consideration of holiday destinations.
However, this reflects a worrying trend of shopping addiction in Singapore, which has led to plans for more Shopaholics Anonymous meetings to rehabilitate recovering shopaholics and prevent more cases of shopping till dropping.
Photo: Anne Worner via Flickr
The travel bug epidemic is spreading like wildfire, and wealthy Singaporeans are being caught in its crosshairs.
A growing affluence and good financial habits such as saving as much as 50 percent of one’s income, are the few factors that have increased Singaporeans’ susceptibility to the travel bug. It’s no wonder that compared to their counterparts, wealthy Singaporeans are amongst the most travelled consumers in Asia Pacific, according to the new Visa Affluent Study 2015.
Singaporeans are also demonstrating their competitive streak by aiming to become the region’s most travelled, with a goal of making an average of 4.7 trips this year. The majority of travellers are also no strangers to pampering themselves, as they tend to spend lavishly on luxury accommodation such as upscale or 5-star and over hotels during their vacations. Singaporeans truly know how to live like a king.
What determines the holiday destinations of the Singapore affluent? You’ve guessed it — shopping. As hardcore shopaholics, finding retail deals are top priority while relaxing at beaches and resorts comes a close second in Singaporeans’ consideration of holiday destinations.
However, this reflects a worrying trend of shopping addiction in Singapore, which has led to plans for more Shopaholics Anonymous meetings to rehabilitate recovering shopaholics and prevent more cases of shopping till dropping.
Photo: Anne Worner via Flickr