Cashed up and unprepared – Australian travellers risk
holiday nightmare this summer: Study
7 December 2010: Almost nine in ten Australians travelling overseas worry their holiday will be cut
short by an unexpected financial, security or personal event but fail to take adequate precautions to
protect themselves and their belongings.
These are among the key findings of a nation-wide Galaxy poll conducted as large numbers of
Australians plan to take advantage of the strong Aussie dollar and travel overseas during the coming
holiday season.
The survey, commissioned by American Express, highlights significant contradictions between the
expectations of Australian travellers, their willingness to prepare adequately and their understanding of
how to act should something go wrong while overseas.
While at least half of all respondents admit to worrying about personal safety, the need for medical
attention and the loss of luggage and passports, most concerns relate to travel funds. Almost 70 per
cent of people are concerned about the loss or theft of cash or credit cards overseas, while 56 per
cent worry about not being able to source money when required.
Top financial concerns of Australians travelling abroad
% of Australians worried
Losing or having money \/ credit cards stolen
68%
Not being able to access money
56%
Credit card fraud
54%
Cards not working when they are used overseas
48%
Being ripped off
46%
Running out of money
37%
Being cheated when converting money
34%
Getting a low foreign currency exchange rate
30%
Spending more than intended
24%
Of significant concern was the finding that more than half (56 per cent) of those surveyed accept they
are likely to have cash or credit cards stolen while travelling outside of Australia.
Despite having real concerns, Australian\u2019s \u2018she\u2019ll be right\u2019 attitude means that a significant number of
travellers are lax with protecting their money while overseas, saying that they \u2018never\u2019 or \u2018only
sometimes\u2019 take precautions.
Precautions taken
Respondents who said
\u2018sometimes or never’
Wear a money belt
65%
Take copies of travel documents or leave them with family
33%
Stay in accommodation with a safety deposit box in room
62%
Take a variety of back-up travel money e.g. cash, cards,
travellers cheques, prepaid travel cards etc.
37%
\u201cThis survey indicates the overwhelming majority of Australians have serious travel concerns of some
kind,\u201d said Lawrence Chan, senior vice president and general manager of American Express Global
Payment Options, Asia, Europe and Africa. \u201cWhat it also reveals is that few people are prepared to
take steps that will protect them from a holiday financial disaster.\u201d
For most people, facing a financial disaster overseas such as having their cash and cards stolen
would be a major headache and 16% of people said it would ruin their holiday. More than half of
Page 2
people said that they would be inclined to cut their holiday short and return home if they had cash or
credit cards stolen.
When faced with a financial drama overseas, the overwhelming majority of people say they would call
their financial institution to sort the matter out, yet one in ten would either panic or have no idea what
to do. Young people are less certain of the best path to take and are likely to call family members
back home.
In response to traveller concerns about protecting their travel money while overseas, American
Express has launched its first American Express GlobalTravel Card, a pre-paid currency card
available in US Dollars, Euros and Pounds Sterling which can be used at millions of locations outside
of Australia where American Express Cards are accepted.
Unique to the card is Global Assist 24\/7 emergency support services which include: access to English-
speaking doctors and lawyers, passport assistance, lost luggage and theft assistance.
If the card is lost or stolen, American Express will organised to have it replaced and the card holder
provided with access to emergency funds – at no additional cost.
\u201cThe American Express GlobalTravel Card makes it easier and safer for travellers to access their
money when overseas, coupled with the peace of mind that American Express is there to help in the
event of a problem,\u201d Mr Chan said.
\u201cUnlike other pre-paid currency cards, the American Express GlobalTravel Card has no inactivity fees
or expiry period, meaning funds can be left on the card indefinitely and will still be there in full the next
time the card holder wants to use them.\u201d
Mr Chan recommends a good way to avoid being caught short financially is to travel with a mixed
travel wallet, something that only a third of overseas travellers do.
\u201cA travel wallet should include cash for when you arrive at your destination, a credit card for larger
purchases, travellers cheques for an emergency and the new pre-paid American Express
GlobalTravel Card for your everyday spending\u201d, said Mr Chan.
\u201cYounger travellers are less likely to carry a variety of travel money or leave photocopies of key
documents with a reliable person back in Australia. They are also less certain of how to respond
following a major loss or theft,\u201d Mr Chan said.
On the brighter side, the poll found an increasing number of young Australians are using pre-paid
travel cards while travelling abroad.
\u201cTravellers aged 18 to 34 years are much more likely to have used a pre-paid currency card overseas
(34 per cent) than older Australians,\u201d Mr Chan said. \u201cPrepaid cards offer enhanced levels of security
as well as greater convenience, an opportunity to lock in high exchange rates and are accepted at
millions of outlets,\u201d he added.
The American Express GlobalTravel Card is available at participating American Express Foreign
Exchange Services offices and Australia Post retail outlets nation-wide.
-Ends-
Notes to editors: The Galaxy survey was conducted online between 6-12 October among 1,013 Australians
aged 18-64 years who have travelled overseas in the past five years or expect to travel overseas in the next two
years.
For further information or to arrange an interview please contact
Jay Pleass (0412 623 578) at Ethical Strategies on (02) 8904 7320.
About American Express – American Express is a global services company, providing customers with access
to products, insights and experiences that enrich lives and build business success. Learn more at
www.americanexpress.com and connect with us on www.facebook.com\/americanexpress,
www.twitter.com\/americanexpress and www.youtube.com\/americanexpress.<\/p>\n","protected":false},"excerpt":{"rendered":"
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