Discover the world's biggest overseas spenders

On the other hand, some individuals prefer a more luxurious travel experience. They indulge in fine dining, stay in upscale hotels, and partake in exclusive experiences.

This style of travel, while more costly, provides a depth of comfort and convenience that enhances their journey.

Merchant Machine, a UK payment reference website have identified the biggest spenders in the world when travelling overseas based on statistics from the United Nations World Tourism Organisation (UNWTO) for 2022.

Here are the top five biggest overseas spenders in the world:

• Australian tourists spend the most of any country in the world with an average spending of $3,078 when they travel abroad, twice the amount the average New Zealander, who is the second highest in Oceania spends which is $1,576.
• The average South Korean spends $3,040 when they go on holiday abroad, more than any other country in Asia and the second-highest total in the world.
• Singaporeans spend an average of $2,966 when they go overseas, ranking second in Asia and third in the world.
• The average Icelander spends $2,470 on vacations abroad, they top Europe and place fourth overall in the world.
• Portuguese tourists with an average spending of $2,166, are the fifth highest spenders in the world, they come in second place in Europe.

Merchant Machine's analysis utilised UNWTO data, examining the total outbound expenditure for 94 nations and dividing it by the total number of departures, reported as "overnight visitors" by some countries.

In 1980, there were 277 million international arrivals; by 2019, that figure had risen to around 1.5 billion. However, the pandemic severely damaged international tourism, with 2.6 billion fewer international arrivals in 2020, 2021, and 2022 combined.

International visitor arrivals rebounded to 89% of pre-pandemic levels by the end of 2023, and to 97% of pre-pandemic levels by the first quarter of 2024. By the end of 2024, the UNWTO projects that international travel will fully recover.

While Latin America's biggest overseas spenders are Brazilians, Moroccans also top the list in Africa.