MasterCard: Kiwis Continue To Be Hit by the Travel Bug in the First Half of 2008
Auckland, 25 February 2008 – While interest rates are up, along with prices for consumer goods and fuel, Kiwis are nevertheless not letting this affect their love for travelling overseas in the first half of 2008, according to MasterCard research.
New Zealanders are expected to continue to pull out their passports, with the year-on-year growth in outbound travel anticipated to reach 6.5 per cent despite economic factors and environmental consequences, according to the latest MasterCard Worldwide Index of Travel™.
The latest report reveals that one million New Zealanders will travel overseas in the first half of 2008, continuing their reputation as one of the world’s most travelled populations.
“Despite volatility in world financial markets, growth in travel remains steady because growth of income and employment is expected to continue during the first half of the year,” said Dr. Yuwa Hedrick-Wong, economic advisor to MasterCard Worldwide in Asia/Pacific.
Other markets in which healthy year-on-year growth in outbound travel is anticipated include China (12.4%), Australia (12%), Korea (10.8%), Malaysia (6.8%), and the Philippines (5.9%).
It also seems that awareness of carbon footprints and global warming has not stopped kiwis’ enthusiasm to travel either. Despite being high on the global agenda, global warming and its effects on climatic conditions will not be affecting business travel plans for 78.1% of New Zealanders.
According to the survey personal travellers prefer to book 42.7% of flights and 54.8% of accommodation on the internet.
Only 8.3% still use traveller’s cheques.
Released twice a year, the MasterCard Worldwide Index of Travel consists of a forecast on outbound travel for the six month period ahead for 12 Asia/Pacific markets, and a survey of business and personal travel trends among the urban middle class across 13 Asia/Pacific markets.
Other key travel findings from the report include:
A total of 5,411 consumers from 13 markets participated in the survey. Fieldwork was conducted between 8 October and 5 November 2007, with a sample of 400 or more consumers in each market, except China where 600 consumers were interviewed. The participants were males and females aged 18 years and above, from the middle and upper income groups.
NOTE TO EDITORS: This news release is distributed with the table (below) that shows the MasterCard Worldwide Index of Travel forecast by market.
The full report, which details the individual market forecasts, can be found at the website www.masterintelligence.com.
The following chart shows the MasterCard Worldwide Index of Travel forecast for outbound travel for the first half of 2008.
About the MasterCard Worldwide Index™ Reports
The MasterCard Worldwide Index of Travel is one of MasterCard’s suite of proprietary research products in Asia/Pacific. The other key Index research products include:
MasterCard Worldwide Index information relates to travel and consumer economic trends only and does not constitute a projection of the business or financial performance of MasterCard Incorporated or its affiliates.
Statements in this press release which are not historical facts, including any statements about MasterCard's plans, strategies, beliefs and expectations, are forward-looking and subject to the safe harbour provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date they are made. Accordingly, except for the company's ongoing obligations under the U.S. federal securities laws, the company does not intend to update or otherwise revise the forward-looking information to reflect actual results of operations, changes in financial condition, changes in estimates, expectations or assumptions, changes in general economic or industry conditions or other circumstances arising and/or existing since the preparation of this press release or to reflect the occurrence of any unanticipated events. Actual results may differ materially from such forward-looking statements for a number of reasons, including those set forth in the company's filings with the Securities and Exchange Commission (SEC), including the company's Annual Report on Form 10-K for the year ended December 31, 2006 and Current Reports on Form 8-K that it has filed with the SEC during 2007, as well as reasons including difficulties, delays or the inability of the company to achieve its strategic initiatives. Factors other than those listed above could also cause the company's results to differ materially from expected results.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 18 billion transactions each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to http://www.mastercard.com.