TRAVEL may be getting more expensive but this does not dampen some Filipino travelers from exploring the world, prompting financial institutions like Metrobank to enhance its credit card product to capitalize on this continuing trend in 2024.
Metrobank unveiled its enhanced Metrobank World Mastercard, showcasing innovative features designed to offer cardholders a more rewarding and tailored experience for their travel-related expenses.
By launching this, the bank aims to attract and retain customers who are increasingly engaging in travel activities.
Market study
Citing Metrobank’s market study, Gail Male, senior vice president and head of credit cards, personal loans and digital channels group, said that post-Covid-19 pandemic travelers now put a premium on experiences, comfort and more perks when traveling anywhere in the world.
Male said today’s breed of Filipino global travelers are no longer contented with sightseeing but are now eager to experience off-beaten paths and immerse in different cultures.
Moreover, 80 percent of surveyed Filipino travelers also said they now prioritize comfort when traveling, citing that health is their top priority.
“They prioritize mental and physical wellbeing. That’s why they are willing to pay for better accommodation and better airlines, among others because comfort is important for them,” Male said.
While they are willing to spend more for comfort, Male said the new breed of travelers is also on the lookout for the best deals and benefits. This doesn’t only apply to budget travelers but also to high-spenders, she said.
Male said these were the factors they considered when developing the updated version of Metrobank World Mastercard.
Travel fair
The Ty-led bank recently mounted the Metrobank Travel Fair from Nov. 17 to 19, 2023 at the Ayala Center Activity Center in Cebu City.
For the entire weekend, Metrobank gathered its travel merchant partners to offer the best travel and accommodation deals to those who are planning to go on their next getaway and discover the world.
Metrobank credit cardholders were able to snatch deals of up to 40 percent off from participating merchants like hotels and airlines, among others.
International tourism
Pending the release of the November 2023 World Tourism Barometer, international tourism is on track to reach 80 percent to 95 percent of pre-pandemic levels in 2023, according to the United Nations World Tourism Organization.
Prospects for September-December 2023 point to continued recovery, driven by the still pent-up demand and increased air connectivity, particularly in Asia and the Pacific where recovery is still subdued.