How Much Do Australians Believe They Need to Earn for Worry-Free Travel?

Up to one in four Aussies will need to earn $200,000 or more per year to travel stress free, new research claims

Close to 23 per cent of Australians feel they will need to earn at least $200,000 per year, which is close to double the average full-time annual salary in Australia according to the ABS.

“What used to be considered a mid-range holiday can now cost thousands more, which is why so many Australians feel they need a much higher income to travel comfortably compared to just five years ago,” TravelInsurance.com.au CEO Shaun McGowan said.

“Post-pandemic airfares are still more expensive than you’d expect, and then there’s accommodation, insurance, transport, meals, tours – it all adds up quickly.”

The term ‘travelling comfortably’ can mean different things to different people, but 26 per cent of Australians view it as being able to spend more on food, experiences or flights without having to worry about the extra cost.

A further 20 per cent of Aussies believe the ability to ‘travel comfortably’ allows them to stay at better accommodation.

However, McGowan said the data paints a telling picture on how hard Aussies will need to work to earn that reward.

“For the majority of Aussies, a six-figure salary is now the baseline if you want to travel without stressing about money,” he said.

The study revealed 13 per cent of Aussies felt they needed to earn between $130,000 and $149,999, whilst a further 13 per cent believed they would need between $150,000 and $199,000 to not feel the financial burden when going abroad.