Travelling? Take Cash. And Return It

On its 50th anniversary, the foreign exchange company Travelex has published its first Travel Money Insights Report. The good news is the headline that 69% of travellers still choose cash.

Travelex analysed its revenue figures across 12 months and combined them with surveys it commissioned on key markets in order to identify consumer travel money acquisition and spending trends.

The report found that:

• On average 69% of travellers still use cash when overseas, higher than card usage (whether debit, credit, or pre-paid) in almost every region surveyed.
• The majority of travellers also travel with card, and the combination of cash and card gives travellers peace of mind and safety.
• Travellers are also shifting decisively toward pre-trip planning, with most purchasing travel money weeks in advance.

The rationale for sticking with cash lies in paying for small items like tipping and taxis, and reservations over cards being accepted and potential fees. How people get foreign currency is changing, moving away from traditional in-trip purchases at the point-of-departure towards pre-trip planning and acquisition.