Move over Vuitton. Hello travel!

A recent subscriber survey by global Internet media company, Zoo Asia Pacific, found that 70 percent of people would rather spend more on travel than luxury goods, indicating a major shift in consumer spending habits, with preference on travel and experiences over fancy handbags and shoes. Specifically, when respondents were asked what they would give up in order to travel more, the figures showed that 60 percent of respondents in Australia, 69 percent in Mainland China, 74 percent in Hong Kong, 79 percent in Taiwan, and 66 percent in Japan were willing to spend less on luxury goods.

In all markets across Asia Pacific, at least 65 percent expect to spend more on travel in 2012 than they did in 2011. When respondents were asked about their preferred destinations, 24 percent of Mainland Chinese travelers rated Australia as their top holiday destination.  Domestic travel topped the list for 45 percent of Australians and 37 percent of Japanese travelers. The survey also acknowledged the increasingly sophisticated travel inclinations of Travelzoo’s Mainland Chinese holiday makers. Beach holidays were the most favorably sought after, with 61 percent citing these among their top preferences. This was followed by 31 percent citing preferences for wellbeing vacations and 30 percent for self drive vacations.

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