Banking data reveals Australians spend hugely on overseas trips

Bank details have revealed the huge sum Australians are spending on overseas travel, with the sum already above pre-pandemic levels.

Australians are spending more money on overseas travel than pre-pandemic levels as the industry rebounds, according to new banking data.

NAB’s latest banking information revealed customers spent $46 million on international flights, accommodation, car rentals, cruises, trains, tours and travel agents in May alone, the highest monthly amount in three year.

Comparatively, customers only spent $43 million on international travel in May 2019.

Between January and May 2022, customers spent $157 million on trips abroad, nearly 600% more than the same period last year.

Paul Riley, director of Everyday Banking at NAB, said the data showed Australians were ready to explore now that the borders had opened.

“For many Australians, it’s been two years without international holidays, visiting family overseas and celebrating milestones like weddings,” Mr Riley said.

“Australians are known for their love of exploring the world. We expect overseas travel spending to continue with school holidays starting later this week and the European summer underway.

According to monthly figures from Tourism Australia, 758,000 international visitors arrived in Australia in April.

These numbers are down 92% from April 2019, but up 940% from April 2021.

In March, 235,000 international visitors arrived in Australia, down 66% from April 2019.

Those numbers are up 940% from the year ending April 2021.

Originally published as Banking data reveals Australians are spending more on overseas travel compared to pre-pandemic levels