In the first three quarters of 2022, the Australian dollar experienced promising highs which caused the prices of overseas goods and services to become more affordable for Australians. However, in late September 2022 the dollar began falling against the USD and other currencies, only experiencing a gain against the New Zealand dollar.
Money Transfer Comparison commissioned an independent study of 1009 Australians to gauge how Australians will react to increases or decreases in the Australian dollar (AUD) against foreign currencies, including whether changes to the AUD will motivate them to commence, or forego, investing, traveling or spending overseas.
The survey respondents cover a geographical and population spread that is reflective of the Australian population.
If the Australian dollar continues to fall against other currencies over the next 12 months, will Australians avoid traveling, investing or spending overseas?
Money Transfer Comparison asked respondents whether they would avoid traveling, investing or spending money overseas if the Australian dollar continued falling against other currencies over the next 12 months. Two-thirds (62 per cent) of Australians would still travel overseas, two-thirds (63 per cent) would still purchase products overseas and almost three-quarters (71 per cent) would not avoid investing overseas, while 79 per cent would not avoid gifting or donating money overseas. However, almost two-thirds of respondents (61 per cent) would avoid spending overseas in at least one of these ways.