Holidaymakers Opt for Cash Over Cards When Travelling

Despite the rise in contactless payments and mobile banking, many travelers still prefer the security and convenience of cash.

According to a recent survey conducted by ABTA, the UK’s largest travel association, travelers tend to use more cash when they are on holiday than when they are at home. This preference for hard currency over digital transactions contradicts the trend towards a cashless society, particularly in developed countries.

The study showed that 55% of holidaymakers used more cash abroad than at home. Only 9% reported using less cash while traveling. The remaining 36% said their usage was the same at home or abroad.

Despite technological advances and the growing popularity of contactless payments and mobile banking, many travelers still prefer to carry cash. This is due to various reasons, including concerns about card fraud, high foreign transaction fees, and not all places accepting cards.

In addition, having physical money can provide a sense of security for some travelers. While it is true that losing cash can be problematic, it does not carry the same potential for long-term financial damage as losing a card or mobile device linked to one’s bank account.

Interestingly, the survey also revealed that younger travelers (those aged 16-24) were more likely than their older counterparts to rely on cash while on holiday. This suggests that despite being digital natives, younger people recognize the benefits of using tangible currency when traveling.

ABTA’s findings highlight an interesting contradiction between our everyday habits and our travel behaviors. As we move towards becoming a largely cashless society, it appears that old habits die hard—especially when we’re on vacation. 

While digital payments continue to rise in popularity, the security and convenience of cash still hold sway for many travelers. This is particularly true in foreign countries where the acceptance of card payments may not be as widespread.