Recent research indicates that nearly one in four Australians believe that an annual income of $200,000 or more is necessary for stress-free travel. This figure, which is nearly double the average yearly wage for full-time workers in Australia as reported by the Australian Bureau of Statistics (ABS), reflects a significant shift in perceptions surrounding travel affordability.
According to the findings, approximately 23% of Australians feel that this higher income level is essential. Shaun McGowan, the CEO of TravelInsurance.com.au, highlights that costs associated with travel have surged considerably in the past few years. He explains that what was once recognised as a mid-range holiday now typically comes with a price tag that can reach thousands more. This change is largely attributed to persistently high airfares following the pandemic, coupled with escalating expenses related to accommodation, insurance, transport, meals, and tours.
The concept of “travelling comfortably” varies among individuals, but around 26% of Australians associate it with being able to indulge in better food, experiences, or flights without the anxiety of excess costs. Additionally, 20% of respondents equate comfortable travel with the ability to stay in more upscale accommodation.
McGowan stresses the implications of this data, suggesting that a six-figure salary has become the new standard for many Australians aiming to travel without financial strain. The study further reveals that 13% of participants think an income range of $130,000 to $149,999 is necessary, while another 13% believe they would need between $150,000 and $199,000 to avoid financial worries during their travels.
This trend underlines the financial burdens faced by ordinary Australians when it comes to holidaying, pointing to a growing divide in the ability to enjoy travel experiences without the accompanying stress often tied to financial limitations. With costs continuing to climb, it appears that many Aussie families may find their dream holidays becoming increasingly out of reach.