American Express Trendex Reveals Singaporeans As Top Spenders for Holiday Travel

According to a recent American Express Trendex study, Singaporean travelers are expected to be the highest spenders on travel in the upcoming holiday season among thirteen surveyed regions. The study investigates consumer travel trends from November 2024 to January 2025.

The survey shows that 85% of Singaporean respondents intend to travel during the holiday season. Of these, 88% expressed interest in exploring new destinations, and 73% prioritized travel more than in previous years.

When examining travel companions, the majority of the respondents plan to travel with family (65%), followed by significant others (35%), and friends (22%). Solo travel is less prevalent, with only 10% of respondents intending to travel alone.

Accommodation preferences for those visiting family and friends are divided: 49% prefer short-term rentals, 33% choose to stay with their hosts, and 18% express no preference.

Despite their willingness to spend, Singaporean travelers strategically maximize their travel budgets. The most common strategies include traveling on off-peak days (76%), utilizing travel credit card points or airline miles (66%), and foregoing airline seat selection (52%).

American Express’ Singapore Country Manager, Mr. Marlin Brown, noted the company’s commitment to providing both convenience and value for travelers. American Express offers Card Members travel benefits worth over S$2,000 with The Platinum Card, including complimentary airport lounge access and exclusive perks at selected hotels worldwide.

When planning their holidays, Singaporeans primarily rely on online travel agencies (52%), followed by general online searches (38%) and professional travel agents (8%).

The Amex Trendex is a consumer trend index tracking perceptions of spending, saving, and traveling among consumers, small businesses, and retailers. The surveyed sample included adults with an annual income of at least US$50k who travel at least once a year from thirteen different regions. The study was conducted online from June 21 to July 17, 2024, with a margin of error of plus or minus 2-4 percentage points.