Aussie holidaymakers 'are being more cautious'

Mozo

Thursday 09 August 2012

The value of the Australian dollar may be high, but one travel company has insisted that people from down under are being far more cautious with their money and are reluctant to spend it on overseas trips.

Speaking to the Sydney Morning Herald, Webjet's managing director John Guscic said the demand for holidays has actually fallen recently.

Although the company posted a 24 per cent rise in annual net profit, Mr Guscic insisted the travel market has "clearly slowed down" in the past six months.

"The Australian consumer is just generally more cautious. It's no different to all the other retail groups who have spoken about the consumer behaviour," he remarked, before adding that the travel market will remain challenging over the next 12 months.

This may come as a surprise to many people, as the strong dollar has ensured Aussie tourists are getting the best exchange rates when venturing abroad.

However, it seems that the high cost of living has put too much pressure on the finances of many Australians.

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