Travelex has released the results of a survey it conducted of 1,012 potential travelers regarding their travel habits and their planned travel habits for 2010. The results show travelers spent 2009 saving up money for their trips and plan to start travel again in 2010. However, travelers indicated that they still did not buy their foreign currency ahead of time or purchase products that would permit them to travel prepared for their destination.
Out of those polled, 68 percent said that, in the last 12 months, the purpose of any trip was for leisure purposes but 67 percent indicated that they did not exchange any money before leaving for their trip. Thirty-six percent said they carried up to $1,000 in cash with them.
The survey also indicates travelers are planning on traveling in the next 12 months but they will continue to carry cash rather than exchanging their currency beforehand. This seems to indicate a general lack of knowledge about the options overseas travelers have like the Cash Passport prepaid currency card combined with foreign currency.
Some of the benefits of carrying foreign currency banknotes and a Cash Passport prepaid card include:
* Being prepared for incidental purchases upon arrival in a foreign country.
* Increased financial security as a Cash Passport card is not connected to a credit card or personal information such as a bank account. Plus, the card can be replaced if lost or stolen.
* Lock-in exchange rates so the traveler need not worry about rate changes as they travel.
* The ability to purchase goods and services or withdraw money from ATMs, in the local currency.
The new economic numbers and the information provided by travelers in the survey are encouraging. However, the responses also indicate more must be done and more travelers must be educated about how to prepare for their overseas trip. That way, they can continue to plan ahead, make their travel arrangements and not have to worry about security therefore reducing the stress involved in planning for an overseas trip.