Cash remains the preferred payment method for most international travellers, according to a new report from leading foreign exchange provider Travelex, which highlights evolving global travel money habits.
The company’s inaugural Travelex Travel Money Insights Report shows that 69% of travellers still choose to carry cash when going abroad, outpacing card usage across nearly all surveyed regions. The findings are based on Travelex revenue data over a 12-month period, combined with global consumer surveys across key travel markets.
While digital payments continue to grow in everyday domestic transactions, the report suggests that travellers still rely heavily on cash when overseas. According to the findings, most travellers carry a combination of cash and cards, balancing convenience with security and flexibility.
“Domestic cash transactions may be falling, but in the travel money market, cash firmly remains king,” said Philip Bowcock, Chief Executive Officer at Travelex. “Cash remains vital for small items like tipping and taxis, whilst many travellers have reservations over cards being accepted and potential fees.”
The report also highlights a significant shift in consumer behaviour, with travellers increasingly planning ahead when it comes to foreign currency. Rather than purchasing cash at the airport, more consumers are buying travel money weeks or even a month in advance.
Only around 6% of travellers reported purchasing foreign currency on the day of travel, indicating a clear move away from last-minute transactions. Instead, travellers are opting for pre-trip planning methods such as home delivery, online pre-orders, and click-and-collect services.
“Travellers who traditionally relied on airport stores to acquire cash last minute are today far more inclined to do so in the weeks leading up to their trip,” Bowcock added. “Airport stores are still a key resource for many, but the market has shifted.”
The findings reflect broader trends in the global travel and payments industry, where travel money planning, foreign exchange services, and hybrid payment methods are becoming increasingly important.
Coinciding with Travelex’s 50th anniversary, the report underscores how the company has evolved alongside changing consumer behaviours, while highlighting the continued relevance of cash in an increasingly digital payments landscape.
While travellers prefer cash abroad, they do not shy away from high tech in their trip planning routines. Another recent report from Adyen shows that one-third of travellers today use AI to book their vacations and make related purchases.
