South Africans are travelling more than ever. What started as revenge travel after lockdown hasn’t slowed down, and Standard Bank clients are leading the way. Their spend on travel in 2024 doubled what the bank recorded in 2021.
Thirty-two percent of that spend went to flight bookings, accounting for 1.5 million bookings, mostly by Private Banking clients. Travel and tour operators and accommodation accounted for 26% and 21% respectively to become the next two highest spend categories.
Over the past five years, travel has seen a strong rebound, driven by pent-up demand after the pandemic. Standard Bank’s data shows that the past two years recorded the biggest surge yet as the wanderlust continues to soar. But with flight costs rising, Standard Bank wants to help clients stretch their rands, and their travel dreams, further.
Research shows many South Africans dream of travelling. Marriott Bonvoy’s 2025 Ticket to Travel research shows that South Africans plan to take an average of 6.5 trips this year. For many, this is more than last year.
“South Africans are part of the global travel boom. Worldwide, travel surpassed pre-COVID levels in 2023 and we’re no different. But here at home, people are hunting for better deals because travel costs keep climbing,” says Chiko Manokore, Head of Personal and Private Banking at Standard Bank.
South Africa has seen a sharp increase in flight prices since, with airlines quoting as high as R5000 for a single flight ticket from Johannesburg to Cape Town. The high prices even prompted the Competition Commission and Parliament to consider a probe.
“We want to help our clients grow wealthier by reducing their travel expenses by making flight more affordable. We’ve refreshed our travel benefits in the newly launched Standard Bank Travel,” adds Manokore.
Clients can now book their flights seamlessly in the Standard Bank app and get flight discounts of up to 40%, not just for themselves, but for the whole family.
These savings are for everyone. Any client can qualify, depending on several factors and criteria including the card type they pay with and their UCount tier level.
There’s also no price limit on discounted bookings, just a yearly discount cap based on the client’s card. It covers any number of local or overseas flights. Plus, all flights in the booking made by a client are discounted, not just the bank customer’s flight. Manokore says this approach was designed with client needs in mind:
“Most people don’t want to travel alone. For many South Africans, travel becomes unaffordable if discounts don’t extend to family and friends. We’ve removed that barrier by offering transparent base fares and inclusive discounts,” he explains.
This is just the beginning. Standard Bank is set to unveil a range of new features that will transform Standard Bank Travel into a rich travel companion, making booking travel easier.
“At Standard Bank, we understand that travel is more than a luxury, it’s a form of building your wealth, through knowledge and exposure to different perspectives. It’s how people connect, grow, and create memories that matter.
“That’s why we’re committed to helping our clients turn their wealth into richer life experiences, by making travel more accessible,” concludes Manokore.
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