Russia: 64% of wealthy people pay travel packages using non-cash forms of payment

Friday 13 December 2013 10:14 CET | News

Two-thirds of wealthy Russians (64 %) pay for their holiday trips using non-cash forms of payment, a recent study indicates.

According to research carried out by VISA, 36% of wealthy Russians use plastic cards for payment abroad. As stated in the report of the company, it is this group of Russian consumers that is the most susceptible to innovations in consumer behaviour.

Results also show that 100 % of respondents plan to go abroad at least 6 times in the next 2 years, 94 % plan to go on journey in the next 12 months. Trips abroad take the first two lines in the rating of priority expenses that the wealthy Russians plan to increase: family vacation and luxurious weekend. Moreover, tourism is a priority line of how to increase expenses in the personal budget. Nowadays the average bill of Russian for shopping abroad is USD 3211 on average, which is higher than the average value in the world, but according to the research, the wealthy Russians plan to increase it to USD 4501in the near future.

The study involved the credit-card holders aged 18 to 55, who belong to 20% of the population with the highest income. Russia was not the only country that took part in the research. The wealthy citizens of Australia, China, Hong Kong, India, Indonesia, Japan, South Korea, Singapore and the UAE also participated in the survey. In terms of the level of readiness to increase expenses for the goods and services, which are not of vital importance, Russians were among the leaders having gained 122 points and taken 6 line in the rating. Willingness of the wealthy citizens of Russia to spend more is based on substantial grounds. Most of them (64%) expect growth of their personal income in the next year. Approximately the same number of respondents (60%) relies on replenishment of the family budget in whole, and almost every second (48%) plans to increase family savings.

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Keywords: Russia, travel package, wealthy people, non-cash forms of payment
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce