Summer getaways back in rage; Goa, Kashmir emerge as fav destinations: Survey
A recent survey by fintech platform ZestMoney has revealed a pent-up demand for travel from the last two years of the pandemic as 70 per cent of people surveyed plan to travel during the summer.
- Apr 19, 2022,
- Updated Apr 19, 2022 5:07 PM IST
A recent survey has revealed a pent-up demand for travel from the last two years of the pandemic as 70 per cent of people surveyed plan to travel during the summer. While 60 per cent said they would travel domestically, 40 per cent said they were most likely to travel internationally in the next three months as the pandemic restrictions have been lifted, according to a survey by ZestMoney, an EMI financing and Buy Now, Pay Later (BNPL) network.
The survey aimed to understand Indians’ travel plans for the summer vacation and received responses from over 2,000 participants, most of whom were millennials and Gen Z.
While the majority of respondents said that budget-friendly travel would be their top priority, a large number of people say they don’t mind spending more for the best travel experience, the survey found.
Over 63 per cent also said that they would finance their travel using EMI/pay-later options, while 33 per cent revealed that they would dip into their savings to travel.
“With the economy opening up and covid restrictions easing, people do want to make the best of their holidays. EMIs/Pay Later are emerging as a preferred option as it not only offers the convenience to plan budgets better but also help them make the most of their travel plans,” said Lizzie Chapman, CEO & Co-founder of ZestMoney.
While Goa continued to be the most preferred destination in India, Kashmir, Ladakh, and Kerala emerged as the other popular destinations for this summer. Shimla, Sikkim, Andaman and Nicobar Islands, Jaipur, Agra, Ooty, and Dehradun also figured on the bucket list, the survey said.
Maldives, Dubai, and Thailand emerged as the top three international destinations. Europe, the USA, Switzerland, the UK, Turkey, Indonesia, Vietnam, Mauritius, Hong Kong, and Singapore were among the other popular international destinations.
Over 65 per cent of those surveyed said the ongoing geopolitical tensions (especially between Russia and Ukraine) won’t have a major impact on their plans.
“We have seen phenomenal growth in the number of travel transactions on our platform with a 150 per cent quarter-on-quarter (QoQ) growth in the March quarter. As the holiday season has begun, we expect to double the growth in this quarter. Most of the transactions in this category are driven by our flagship zero-interest and no-cost ‘Pay-in-3’ option, followed by offerings with six months and nine months tenure. Merchants are also increasingly taking to enabling EMI/pay-later options and we are working with them to offer the best deals to our customers. Travel is poised to become one of the largest categories for us,” added Chapman.
A recent survey has revealed a pent-up demand for travel from the last two years of the pandemic as 70 per cent of people surveyed plan to travel during the summer. While 60 per cent said they would travel domestically, 40 per cent said they were most likely to travel internationally in the next three months as the pandemic restrictions have been lifted, according to a survey by ZestMoney, an EMI financing and Buy Now, Pay Later (BNPL) network.
The survey aimed to understand Indians’ travel plans for the summer vacation and received responses from over 2,000 participants, most of whom were millennials and Gen Z.
While the majority of respondents said that budget-friendly travel would be their top priority, a large number of people say they don’t mind spending more for the best travel experience, the survey found.
Over 63 per cent also said that they would finance their travel using EMI/pay-later options, while 33 per cent revealed that they would dip into their savings to travel.
“With the economy opening up and covid restrictions easing, people do want to make the best of their holidays. EMIs/Pay Later are emerging as a preferred option as it not only offers the convenience to plan budgets better but also help them make the most of their travel plans,” said Lizzie Chapman, CEO & Co-founder of ZestMoney.
While Goa continued to be the most preferred destination in India, Kashmir, Ladakh, and Kerala emerged as the other popular destinations for this summer. Shimla, Sikkim, Andaman and Nicobar Islands, Jaipur, Agra, Ooty, and Dehradun also figured on the bucket list, the survey said.
Maldives, Dubai, and Thailand emerged as the top three international destinations. Europe, the USA, Switzerland, the UK, Turkey, Indonesia, Vietnam, Mauritius, Hong Kong, and Singapore were among the other popular international destinations.
Over 65 per cent of those surveyed said the ongoing geopolitical tensions (especially between Russia and Ukraine) won’t have a major impact on their plans.
“We have seen phenomenal growth in the number of travel transactions on our platform with a 150 per cent quarter-on-quarter (QoQ) growth in the March quarter. As the holiday season has begun, we expect to double the growth in this quarter. Most of the transactions in this category are driven by our flagship zero-interest and no-cost ‘Pay-in-3’ option, followed by offerings with six months and nine months tenure. Merchants are also increasingly taking to enabling EMI/pay-later options and we are working with them to offer the best deals to our customers. Travel is poised to become one of the largest categories for us,” added Chapman.