KUALA LUMPUR, December 7 – Europ Assistance (“EA”), a global travel insurance and assistance provider, has released survey results from their 22nd edition of the Holiday Barometer in collaboration with Ipsos, a leading market research company. The survey was conducted among 1,000 Malaysian respondents to understand their travel preferences for 2023. Key findings indicate that 80% of Malaysians are excited and happy to travel this year, with more than 72% planning to do so. However, inflation and Covid-19 are significant deterrents to their travel plans.
The survey reveals that 69% of Malaysian respondents plan to travel abroad in 2023, while 41% intend to travel domestically. Among their preferred destinations are ASEAN markets such as Singapore, Thailand, and the Philippines. Malaysians are planning to spend an average of RM6,500 per trip, with an average duration of 10 days. These budget and duration figures are influenced by inflation and cost concerns, making them comparatively lower than in other regions.
The primary factors deterring Malaysian travelers are inflation and Covid-19, with 80% of respondents concerned about the possibility of an epidemic outbreak. Fear for their physical safety and the risk of not being able to return home also play a role in their hesitancy to travel. Malaysians are showing optimism by prioritizing travel insurance that covers emergency medical expenses, safety, and health-related issues. Europ Assistance aims to be a leading provider of travel protection services in Southeast Asia, including Malaysia, with their recent acquisition of Asia Assistance this year.
