Fintech PR

BRITS PRIORITISING HOLIDAYS DESPITE COST OF LIVING PRESSURES

Published

1 year ago

October 18, 2023

MANCHESTER, England, Oct. 18, 2023 /PRNewswire/ — While Brits face tighter budgets as inflation rises, appetite for travel remains strong according to the Travel Tracker Report from Travel Counsellors – one of the UK’s largest and fastest-growing travel companies.

According to the survey of 2,000 Brits, almost half (45%) said holidays were their number one spending priority over the next 12 months, ahead of home and garden renovations (30%), eating and drinking out (28%) and clothes, shoes and accessories (27%).

The report highlighted that no corners are cut for the perfect holiday experience, as more than three quarters (76%) of those surveyed are planning to spend at least as much on travel next year as they did in the last past year. Not only that, as much as 81% are likely to exceed their planned budget when on holiday.

Looking ahead to the next six months, three quarters (75%) of Brits surveyed are planning an overseas trip. Over a quarter (28%) are opting for a city break, while over one fifth (21%) are searching for some winter sun with a beach getaway.

58% of Brits have been on holiday in the past year, with nearly half (47%) opting for a beach break. Spain was the number one overseas destination in 2023, followed by France and Greece. The USA and Italy completed the top five. Looking to next year, the research suggests Brits are feeling more adventurous and planning to travel further afield, with the USA topping the 2024 destination hotlist, followed by Australia.

The holiday ‘feel-good’ factor

According to the Travel Tracker Report, over a third of Brits (38%) value holidays more since the pandemic and nearly one in five (23%) are more motivated to get out and explore the world.

Over a quarter (29%) of respondents said they go on holiday to escape everyday life, the second most important driver after the desire to relax and unwind (43%). Nearly a fifth of Brits (16%) admitted they ‘live for holidays” while one in four said that needing something to look forward to is their main motivation for booking a trip.

16% are prompted to book after hearing about their friends’ holidays, while 15% are inspired by seeing others’ holiday experiences in social media. Almost one in 10 (7%) said they decide to book a holiday after a bad day at work.

When it comes to the perfect holiday, soaking up the local culture topped the list of holiday must-haves, (34%).

Young adults leading the charge for sustainable travel

Environmental concerns are fast becoming a key focus for the travel industry and travellers alike. As a result of this summer’s record temperatures and extreme heat in southern Europe, 40% of travellers are changing their plans, with 14% deciding to visit southern Europe in the cooler Spring months instead. While nearly half (48%) of those polled say climate change has made them consider more sustainable options when planning a holiday, only 13% plan to reduce their air travel.

The Travel Tracker also reveals a generational split, with young adults leading the charge for sustainable travel. Nearly three quarters (71%) of 16–24-year-olds surveyed say they are considering more sustainable travel options and over half (52%) of 16–24-year-olds said they would be willing to pay more for a sustainable holiday, compared to 41% of all adults polled. While the typical Brit is willing to spend 14% on top of the existing price for a more sustainable holiday, 16–24-year-olds said they would pay nearly a quarter (24%) more.

Steve Byrne, CEO, Travel Counsellors, said: “The clear takeaway from our Travel Tracker Report is that holidays will always be a number one priority – whether in terms of financial investment or emotional fulfilment.

“While the travel industry has changed dramatically in recent years, our forward bookings are stronger than ever before. Travel advisors continue to play a vital role, and we’ve seen an unprecedented number of customers actively seeking trusted advice and bespoke support from our dedicated travel experts, all in pursuit of crafting the perfect holiday experience. This is reflected in the research findings, which show over a third of Brits (36%) have booked a holiday through a travel advisor in the last 12 months. This rises to over half (53%) for those that have a joint household income over £75,000.

“There is much to be optimistic about for the future of the industry, underscoring its enormous value that it holds for the UK economy.”

Notes to Editors

The research was conducted by Censuswide, among a sample of 2,000 UK adults (Aged 16+). The data was collected between 18/09/23 and 12/10/23. Censuswide abides by and employs members of the Market Research Society and follows the MRS code of conduct which is based on the ESOMAR principles.

PR enquiries

Hudson Sandler

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Tel : +44 20 7796 4133

About Travel Counsellors

Travel Counsellors is the UK’s largest and fastest-growing technology platform for travel entrepreneurs that connects over 1,900 independent business owners, ultimately enabling them to deliver exceptional levels of customer service. In the year to 31 October 2022, Total Transaction Value (“TTV”) on the platform was more than £700m, up more than 300% against the prior year.

Travel Counsellors operates across six countries (UK, Ireland, the Netherlands, Belgium, South Africa and the UAE) and employs 300 people in its UK headquarters and overseas offices. The Company provides a high touch, digitally enabled platform, that enables and empowers business owners to harness innovative and constantly evolving tools and technology to build their businesses in a way that suits them, with limitless potential and scale. This is underpinned by the knowledge and power of a global community and strong people first culture.

The company operates its own ATOL supported financial trust which safeguards customers from any failure of a travel supplier involved in their booking.

Travel Counsellors is multi-award winning and has a five star, ‘Excellent’ rating on Trustpilot. It was founded in 1994.

For further information about Travel Counsellors, please visit www.travelcounsellors.co.uk

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Fintech PR

Wahed appoints Khalid Al Jassim as Executive Chairman of Wahed MENA to help guide the strategic growth of Wahed in the region

Published

19 hours ago

November 24, 2024

CISION (PR Newswire)

wahed-appoints-khalid-al-jassim-as-executive-chairman-of-wahed-mena-to-help-guide-the-strategic-growth-of-wahed-in-the-region

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Wahed, a global Shariah-compliant fintech, has appointed Khalid Al Jassim as Chairman of Wahed MENA.

On this appointment, Khalid commented, ”I am excited to guide Wahed’s growth in the region. Wahed’s mission of furthering Islamic Finance is one I resonate with deeply and I look forward to supporting its growth ambitions.”

Khalid has over twenty five years of investment banking and corporate advisory experience gained with some of the most innovative and groundbreaking institutions in the world.

His career spans leading firms including SABIC, Arthur Anderson and Arcapita Bank in Bahrain, where he was instrumental in making it into one of the PE powerhouses in the region. His responsibilities started in the earlier years with establishing the Investment Placement Team and transforming it into one of the most robust teams in the industry. At the time that Khalid left Arcapita to build his personal business, he was an Executive Director. Today he is Chairman of Afkar Vision, a private advisory house specialized in mergers and acquisitions with offices in Manama, Dubai and Riyadh.

As well as being one of the earliest investors in Wahed, he is currently Chairman of the Audit Committee and Board Member at Bahrain Islamic Bank, the 4th oldest Islamic Bank in the World and Board Member at SICO Bank and SICO Capital in Saudi, an $8bn asset manager in the region.

Mohsin Siddiqui, Wahed CEO said, “We are delighted to announce Khalid’s appointment. His unique understanding of the financial landscape in the MENA region is unparalleled and we are excited to bring this expertise in continuing to grow our presence in the region.”

About Wahed

Founded in 2015, Wahed is a financial technology company that is advancing financial inclusion through accessible, affordable, and values-based investing. The company has made significant inroads in the world Shariah compliant investing by creating an easy-to-use digital platform that provides a suite of Shariah compliant investing products including managed portfolios and venture and real estate investments. Wahed caters to over 400,000 customers globally and manages over $ 1 billion in assets.

For more information, visit: www.wahed.com

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Fintech PR

Qatar Development Bank announces strategic investment in global Islamic FinTech, Wahed

Published

19 hours ago

November 24, 2024

CISION (PR Newswire)

qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech,-wahed

DOHA, Qatar, Nov. 24, 2024 /PRNewswire/ — Qatar Development Bank (QDB) announces a strategic investment in Wahed, a global Shariah-compliant fintech.

Wahed currently manages over $1 billion in assets and has attracted over 400,000 clients worldwide. The company is built on the principles of democratizing access to financial services and offers clients access to Shariah-compliant investments in its mobile app. Wahed removes the barriers to sophisticated investment management services that have been traditionally reserved for high-net-worth investors.

Khalid Al Jassim, Executive Chairman of Wahed MENA said: ‘We are delighted to welcome our new shareholders, QDB. We believe Qatar is fully aligned with our mission in creating a technology-first Islamic finance leader that unlocks a financial ecosystem free from Riba. We look forward to supporting the Qatar National Vision 2030 of becoming a leading knowledge-based economy.

Ali Rahimtula, Partner at Cue Ball Capital said: “Qatar Development Bank’s strategic investment is a clear signal of the faith the industry has in Wahed and its ability to create the future of Islamic Finance.”

About Wahed

For more information, visit: www.wahed.com

About Qatar Development Bank

Qatar Development Bank’s mission is to advance the economic and innovation development cycle of Qatar, supporting and contributing to the nation’s economic diversification. As well as a focus on the development of Qatar’s private sector, QDB is a powerful catalyst for socio-economic development in the country, empowering the local economy and bettering living standards.

For more information, visit: https://www.qdb.qa/

Photo – https://mma.prnewswire.com/media/2566075/Qatar_Development_Bank_Announcement.jpg

View original content:https://www.prnewswire.co.uk/news-releases/qatar-development-bank-announces-strategic-investment-in-global-islamic-fintech-wahed-302314778.html

Fintech PR

China’s AIMA brand electric motorbike is now in Bangladesh

Published

1 day ago

November 23, 2024

CISION (PR Newswire)

DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now.

In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.

Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.

AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.