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Managing your money before, during and after travel

A quarter of holidaymakers admit they’ve spent between £100 and £300 more than they'd meant to while they’re away, according to our study[@sticky-censuswide-travel-survey-sept-2022].

Here are some tips to help you manage your money before you leave, while you're outside the UK and when you get back.

Before you leave the UK

Manage your finances before you go.

Whether you're travelling for one week or several months, it’s important to take some time to create a budget . Understanding your income and outgoings can help you work out what you can comfortably afford to spend on your holiday. 

You could use tools like our budget planner to help. 

As you note down your expenses, now is the time to set up Direct Debits to make sure any bills are paid on time automatically – giving you one less thing to worry about. 

If you’re looking to save money for travel , our savings goal calculator can help you work out how much you’d need to reach your goal.

Explore: Online money management tools

Think about travel insurance

If you’re not already covered. it might be a good idea to buy travel insurance as soon as you book your trip.

Travel insurance doesn't just cover you while you're away. It can also cover you for things that might go wrong before you travel, such as cancelled or delayed flights. Without travel insurance, things can get quite costly – should something happen. 

Explore: Should you get travel insurance?

Sort out your spending money

Our survey suggests debit cards (36%) are just as popular as cash (36%) as the preferred way of spending money outside the UK. Credit cards also remain a popular choice (25%).

From those of us who prefer to use cash, the majority (51%) still prefer to get it face-to-face from a bank or currency exchange before they travel. We're most likely to pick our provider by exchange rate (36%), followed by ease of use (22%) and how close it is to home (14%).

Depending on your situation and where you’re travelling, you may prefer to take cards or travel money . Or you may want to take a mixture of both.

Our HSBC Global Money Account allows you to spend money outside the UK (withdraw cash or make card purchases in multiple currencies) without paying HSBC fees – just as you would at home. It removes some of that unexpected spend – making it easier to plan and stick to a budget.

Global Money is available for eligible HSBC current account holders who have the HSBC UK Mobile Banking app. Terms and conditions apply.

You can also   order Travel Money online  from HSBC – choose home delivery or collect in a branch.

Understand the extras

UK holidaymakers say they’ve been pushed over budget by surprise holiday charges – luggage fees (22%) and over-priced hotel excursions (22%). 

It’s important to understand any extra costs when travelling abroad, including any fees or charges for using your card outside the UK .

Gather key contacts

Make a note of the number to call your bank from outside the UK, so you can get in touch if something happens while you’re away. 

If you're with HSBC, you can phone +44 1442 422929 from outside the UK. 

You should also do the same with your travel insurance provider and any other numbers you might need.

During your trip

Paying in local currency.

When shopping or eating out in a restaurant, you may be asked if you want to pay in pound sterling instead of the local currency. This is called dynamic currency conversion (DCC).

You’ll almost always be charged a higher exchange rate for choosing to pay in pounds. The shop or restaurant may also add on extra conversion fees.

If you choose to pay in the local currency, Visa or Mastercard will set the exchange rate, which in most cases will be lower.

Explore: Should you pay in local currency outside the UK?

Don't keep all your money in one place

Consider storing your cards and cash separately to reduce the risk of them all being lost, or stolen, at the same time. Use a safe to store anything valuable (including money) that you don’t need to have with you.

Budget your spending

Regardless of whether you’re using cards or travel money , it can be a good idea to stick to a daily budget for spending while you’re away.

By setting a reasonable target, you can make sure that, when you come home, you’re not stressed about money and in need of a holiday all over again.

Contact your bank straight away if your cards are lost or stolen

If your cards are lost or stolen while you’re away, you should tell your bank as soon as you realise so they can cancel them.

If you need emergency money while outside the UK, some banks will arrange for cash to reach you to keep you going until you get home.

If you’re with HSBC, you can  temporarily freeze your card  while outside the UK.

If your card is lost or stolen, call us on +44 1442 422929, or use our mobile banking app to temporarily freeze your card.

After you get home

Almsot a fifth of UK holidaymakers (18%) admit they’ve got more than £100 worth of foreign cash at home after taking it back with them at the end of their holiday.

If you have any cash left over, you have a couple of options when you return home.

If you plan to travel again soon to a country or region where that currency is used, you can choose to hold on to the money until then.

If another trip isn’t on the cards, you can exchange your foreign currency back into pounds. These transactions are often referred to as ‘buy backs’.

Explore more

Make sure you and your money are holiday-ready  

Using your card outside the UK  

6 tips for using your credit card overseas  

About the survey.

HSBC VIP Travel and Expense Card

HSBC VIP Travel and Expense Card: Introducing the perfect travel companion – your new HSBC VIP Travel & Expense Mastercard© credit card.

Designed to make your business travel as convenient and seamless as possible, your new card includes exclusive benefits, such as airport lounge access, trip delay and cancellation insurance, complementary Boingo Wi-Fi in all major airports, premier customer service access and more.

Travel boldly with the card that offers benefits beyond the ordinary with the HSBC name that is instantly recognized and respected around the globe.

Introducing the perfect travel companion – your new HSBC VIP Travel & Expense Mastercard© credit card.

Mastercard© Coverage Brochure (PDF, 1.29MB)

Mastercard© Guide to Benefits (PDF, 389KB)

Mastercard© Guide to Benefits – Trip Cancellation & Trip Interruption (PDF, 1.43MB)

To file a claim visit: www.mycardbenefits.com or call 1-800-Mastercard

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Review: HSBC TravelOne Card

The HSBC TravelOne Card is an excellent general spending card that's missing one important puzzle piece: points pooling.

Here’s The MileLion’s review of the HSBC TravelOne Card, which shook up the miles game when it launched back in May this year with 12 transfer partners, instant, free conversions, a generous lounge benefit and a competitive sign-up bonus. Feature-wise, it’s as strong a general spending card as you could hope for. 

And there’s more still to come. That transfer partner list, already the longest in Singapore, is set to grow to more than 20 by the end of 2023. Points pooling is in the pipeline. The TravelOne Card is not the finished article yet, but it’s moving in the right direction.

If nothing else, it’s at least worth hopping onboard for the first year.

Overview: HSBC TravelOne Card

Let’s start this review by looking at the key features of the HSBC TravelOne Card.

Fun fact: the HBSC TravelOne Card continues the trend towards “portrait-style” credit cards, designed vertically instead of horizontally. This supposedly allows for a smoother user experience, as it mimics how customers typically handle their cards when they tap to pay or dip the card into a chip reader. It’s even got a notch at the bottom, a thoughtful touch that’s designed as an accessibility feature for the visually-impaired (so they know which end they insert into the card reader).

But Apple and Google Pay wallets don’t support vertical card faces, so if you add it to your phone you’ll see the secondary design that HSBC created, in landscape.

Despite its silver Mastercard logo, do note that the HSBC TravelOne Card is a World Mastercard and not a World Elite Mastercard.

How much must I earn to qualify for a HSBC TravelOne Card

The HSBC TravelOne Card has an income requirement of S$30,000 p.a. , the MAS-mandated minimum to hold a credit card. 

If you do not meet the minimum income requirement, you may apply for a secured version of this card by depositing at least S$10,000 in a fixed deposit account. The application form can be found here.

How much is the HSBC TravelOne Card’s annual fee? 

The HSBC TravelOne Card has an annual fee of S$194.40 for principal cardholders. At the moment, HSBC is not offering a first year fee waiver; you must pay the annual fee (which also lets you enjoy the 20,000 miles sign-up bonus). 

In subsequent years, the annual fee can be waived with a minimum spend of S$25,000 in a membership year. As this is a new credit card, I can’t say at the moment whether HSBC will strictly enforce this- though I think it’d be very hard for them to do so, given that most other competitors offer fee waivers fairly easily. 

All supplementary cards are free for life.

What sign-up bonus or gifts are available?

From 1 September to 31 December 2023 , customers who apply for a HSBC TravelOne Card will enjoy 20,000 bonus miles (in the form of 50,000 HSBC points) when they:

• Pay the annual fee of S$194.40
• Spend at least S$1,000 by the end of the month following approval
• Opt-in for marketing communications during the sign-up (don’t forget this step- it’s just as important as the first two)

This offer is valid for both new and existing HSBC cardholders. 

The qualifying spending period is as follows:

20,000 miles for S$1,000 spend and a S$194.40 annual fee is a tidy return; put it another way, you’re paying about 0.97 cents per mile (S$194.40/20,000 miles), which is a great price especially when you factor in transfer partner variety. 

The terms and conditions for the HSBC offer can be found here.

How many miles do I earn?

Sgd/fcy spend.

HSBC TravelOne Card cardholders will earn:

• 3X HSBC points per S$1 (1.2 mpd)  on local spend
• 6X HSBC points per S$1 (2.4 mpd)  on foreign currency spend

These are among the highest earn rates for any general spending card in Singapore, especially when you consider HSBC’s relatively favourable rounding policy (more on that below).

All FCY transactions are subject to a 3.25% fee, which is par the course for the market.

With a 2.4 mpd earn rate and a 3.25% FCY fee, using the HSBC TravelOne Card overseas represents buying miles at 1.35 cents apiece.

There is also the option of pairing the HSBC TravelOne Card with Amaze in order to enjoy better conversion rates, but you’ll earn 1.2 mpd instead of 2.4 mpd in that case since transactions will be converted into SGD. 

Bonus Spend

Unfortunately, the HSBC TravelOne Card does not have a bonus earn category. To be fair, not all general spending cards offer one, but it’s a particular problem for the TravelOne because points don’t pool.

This means that you can’t take advantage of the HSBC Revolution ’s excellent 4 mpd earn rate, nor can the HSBC Revolution ’s points be used for the TravelOne’s new transfer partners. 

HSBC says they’re working on adding points pooling, but until they do, your earn rates will be relatively underpowered compared to other 4-6 mpd earning specialised spending cards. 

When are HSBC Rewards Points credited?

HSBC Rewards Points are credited when the transactions posts, usually in 1-3 days.

How are HSBC Rewards Points calculated?

Here’s how you can work out the HSBC Rewards Points earned on your HSBC TravelOne Card.

The minimum spend required to earn points is S$0.25 (SGD) and S$0.10 (FCY) respectively.

This means that the HSBC TravelOne Card (1.2 mpd) can outperform the ostensibly higher earning UOB PRVI Miles Card (1.4 mpd) in certain circumstances, depending on transaction size. 

If you’re an Excel geek, here’s the formulas you need to calculate points: 

HSBC previously only displayed total points balances, but with the launch of the TravelOne Card they’re now providing transaction-level points breakdowns. 

To view this, login to the HSBC mobile app and tap on your HSBC TravelOne Credit Card > View More > Redeem Your Points

On the next screen, tap ‘Show points history’, and you’ll see a breakdown of points earned per transaction. 

For the full list of formulas that banks use to calculate credit card points, do refer to these articles:

• General Spending Cards
• Specialised Spending Cards

What transactions aren’t eligible for HSBC Rewards Points?

A full list of transactions that do not earn HSBC Points can be found in the T&Cs (at Point 3).

I’ve highlighted a few noteworthy categories below:

• Charitable Donations
• Government Services 
• GrabPay top-ups
• Professional services provides (e.g. Google & Facebook Ads, AWS)
• Real Estate Agents & Managers

HSBC also excludes CardUp, ipaymy and RentHero transactions from earning points. In a way, this does compound the lack of a bonus category problem, since you can’t even buy additional TravelOne points via these payments services if you were so inclined. 

What do I need to know about HSBC Rewards Points?

HSBC Points expire at the end of 37 months  following the time they were earned.

For example, any points awarded in August 2022 will expire on 30 September 2025.

HSBC Points do not pool across cards. If you have 10,000 HSBC Points on the HSBC TravelOne Card, and 15,000 HSBC Points on the HSBC Revolution Card, for example, you won’t be able to combine the two when redeeming.

However, HSBC tells me that points pooling is on the roadmap, so hopefully this will no longer be the case soon.

In the meantime, since points do not pool, you will have to transfer all your HSBC Points before cancelling the HSBC TravelOne Card, or else forfeit them.

Transfer Partners & Fees

The HSBC TravelOne Card stole a march on Citibank when it launched with 12 airline and hotel partners, replacing them as the bank with the most transfer partners in Singapore.

In addition to KrisFlyer and Asia Miles, there’s also opportunities to leverage sweet spots with British Airways Executive Club (and Qatar Privilege Club by extension, since the two programmes are linked ), and EVA Air Infinity MileageLand’s sometimes-better Singapore Airlines award space.

HSBC says they plan to scale up the number of partners to 20 by the end of 2023, and based on the partners the Malaysia and Hong Kong versions have, I’d expect to see Air Canada Aeroplan, JAL Mileage Bank and Turkish Airlines Miles&Smiles added to the mix. 

Do note that only HSBC TravelOne Cardholders can access the abovementioned transfer partners; if you have a HSBC Revolution or HSBC Visa Infinite Card, you are still limited to KrisFlyer and Asia Miles for the moment. 

Regarding minimum conversion blocks, cardholders will need to convert a minimum of 25,000 points (10,000 miles). However, the subsequent conversion block drops to just 5 points (2 miles), which means you could convert 10,002 miles, or 200,006 miles if you so desired. That’s great, because it helps avoid the problem of orphan miles. So long as you keep at least 10,000 miles in your account, you can cash out your entire balance with almost no miles left behind. 

HSBC normally charges a S$43.20 annual fee for unlimited conversions, but as part of the TravelOne’s launch campaign, all transfers are free-of-charge till 31 December 2023.  It remains to be seen what model HSBC adopts after that, but my sense is that we can expect a ~S$25 fee per conversion. 

Transfer Time

HSBC says that with the exception of Accor Live Limitless, TravelOne points transfers are processed “instantly or within one business day”. 

I’m pleased to report that all transfers actually process instantly.  This is possible because HSBC uses Ascenda Loyalty’s platform, which has API integration with the airlines.

Here’s an example showing an instant transfer from TravelOne to British Airways Executive Club. There are also successful data points of instant transfers to Singapore Airlines KrisFlyer.

Other card perks

Four complimentary lounge visits.

Principal HSBC TravelOne Cardholders enjoy four complimentary lounge visits per year, provided via DragonPass.

Allowances are awarded by  calendar year , which means you basically enjoy eight visits in your first membership year. For example, if your card is approved in June 2023, you will be awarded:

• On date of approval: 4 visits (expires 31 December 2023)
• On 1 January 2024: 4 visits (expires 31 December 2024)

Allowances cannot be rolled over, so be sure to fully utilise your visits by the end of the calendar year.

Here’s how to start enjoying the benefit:

• Step 1: Download Mastercard Travel Pass app ( Android | iOS )
• Step 2: Select ‘Sign up’ to register for the programme, or log on to your account if you’re already a member
• Step 3: Enter your HSBC TravelOne Card details for a one-time verification
• Step 4: Complete your personal details for Mastercard Travel Pass account registration (enter your name as shown in your passport)
• Step 5: Set your account password

Four visits is relatively generous for an entry-level credit card, double what most of the competition is offering. The main catch is that these visits cannot be shared with a guest. 

Entertainer with HSBC

HSBC TravelOne Cardholders receive a complimentary ENTERTAINER with HSBC app membership, which includes:

• 1-for-1 dine-in offers at more than 150 merchants across Singapore, including Sushi Jiro @ PARKROYAL COLLECTION, Bangkok Jam, Paul Bakery and more
• 1-for-1 takeaway offers at more than 50 merchants including Canadian 2 For 1 Pizza, Andersen’s of Denmark and more
• Up to 50% off leisure, attraction and wellness offers at BOUNCE Singapore, Spa Infinity, Virtual Room and more
• 1-for-1 stays in rooms at over 175 hotels around the world

You’ll need an activation key to start using your ENTERTAINER membership. This should have been emailed to you; if not you’ll need to call 1800 4722 669 to get it from customer service.

HSBC Everyday Global Account

HSBC TravelOne Cardholders can earn an additional 1% cashback on all eligible transactions when they open an HSBC Everyday Global Account (EGA) and meet the qualifying criteria for the Everyday+ Rewards programme.

This involves:

• HSBC Personal Banking: S$2,000
• HSBC Premier: S$5,000
• Performing at least five eligible transactions of any amount each calendar month on their card

Eligible transactions simply refer to anything not on the exclusions list (Point 3 of T&Cs ), such as GrabPay top-ups, government transactions, insurance premiums, utilities bills. All other retail spend (e.g. dining, groceries, clothing and apparel) is fair game.

Cardholders who meet the eligibility criteria will earn 1% cashback, capped at S$300 per month for HSBC Personal Banking and S$500 per month for HSBC Premier.

This means your effective return for spending will be:

• Local Spend: 1.2 mpd + 1 % cashback
• Overseas Spend: 2.4 mpd + 1% cashback

All this requires is a one-time setup of the EGA, plus a recurring instruction to transfer the minimum fresh funds every month. 

Complimentary travel insurance

HSBC TravelOne Cardholders receive complimentary travel insurance when they:

• Use their TravelOne Card to purchase air tickets, or
• Use their TravelOne Card to pay for the taxes and surcharges on a ticket redeemed with airline miles

This includes coverage of up to US$100,000 for both the cardholder and their family. COVID-19 related medical treatment and trip cancellation is also provided for.

Summary Review: HSBC TravelOne Card

The HSBC TravelOne Card has a lot going for it: the widest range of transfer partners in Singapore, with more soon to come. Instant conversions, with no fees till 31 December 2023. Double the lounge visits of its closest competitors. A minimum transfer block of 10,000 miles that reduces to just 2 miles subsequently, making it easier to avoid orphan miles in your account.

It feels like an exciting puzzle that’s missing one big piece:  points don’t pool. Because of this, you can’t tap into the superior earning power of the HSBC Revolution, and even though the HSBC TravelOne Card’s earn rates are objectively good for a general spending card, 1.2/2.4 mpd is not going to challenge a 4 mpd card anytime soon.

There could be a silver lining though, because HSBC has points pooling on its roadmap. They’ve not committed to a specific timeframe, but when this happens, I get the sense that a lot of things will fall into place.

In the meantime, I certainly don’t see the harm of signing up for at least a year, in order to grab the sign-up bonus that’s open to both new and existing customers, as well as up to eight lounge visits. 

What do you make of the HSBC TravelOne Card?

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The milelion’s 2024 credit card strategy, extended: citi rewards card 16,000 miles sign-up offer.

anyone know if AXS pay+earn also contributes to the $800 spend offer?

Hi Milelion! Thanks for the solid write-up. By the way, in the above section “What sign-up bonus or gifts are available?”, the minimum qualifying spend seems to have increased to SGD1,000, from SGD800. As it is mentioned in HSBC’s “Terms and Conditions for the HSBC TravelOne Credit Card Sign up Promotion for 1 September 2023 to 31 December 2023”. Raising this up to prevent confusion among readers. Cheers~

thanks! will get that updated.

When will the TravelOne card annual fee for the bonus points be charged? I don’t see the annual fee showing on my statement yet after 2 months. If so how do I qualified for the bonus points? Any Idea?

hi Milelion, would u be in the know on whether the pooling would still happen by year end (aka 123123)?

i don’t have any info on this at the moment.

Hi Aaron, this is a great article! Quick questions for the EGA cashback eligibility, referring to HSBC EGA T&C art 5a (i)

Eligible Customers shall receive a cashback of 1% of the spend amount for successful posted: (i) transactions (excluding Excluded Transactions) in SGD made with a HSBC personal Credit Card

From above T&C, it seems only transactions in SGD are eligible for 1% cashback, not the FCY transactions. Kindly advise. Thank you!

Aaron, I think there’s something missing from your review: HSBC T1 is, in a vacuum, technically, the best non-SGD general spend card in the market, because it earns the same non-SGD rate as UOB PRVI Miles and it has much better rounding. This is currently irrelevant because you only get orphan miles, but it would become useful if T1 and Revolution miles suddenly pool. If you took Milelion advice and got T1 for the signup bonus miles, should you cancel the card then consider reapplying if pooling is implemented? In practice, most people will still get UOB PRVI Miles because …  Read more »

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Do i need to notify a credit card company when traveling.

If you have planned travel coming up, alerting your credit card issuers about your vacation plans can help to ensure that your charges aren't declined when you arrive. Here's how you can prepare yourself and your credit card for your next trip.

What is a credit card travel notice?

A travel notice is an alert to your credit card issuer that you'll be going on a trip to a different location. By giving this notice in advance, you're letting your credit card company know that you may be making charges from a different state or country.

Why should you notify your credit card company  of travel?

Credit card companies check cardholders' accounts for any unusual or suspicious activity when a transaction occurs. If your company sees a charge from a location away from home, your issuer may think this is suspicious activity and decline the charge. If you're visiting a country or location where fraudulent charges occur more often, the chances of your credit card getting declined are higher when you don't alert your credit card issuer about your travel.

Do you need to notify your credit card  company?

You're not required to notify your credit card company when you're going away on vacation, but it is highly recommended. By letting your credit card company know where you're going and for how long, your company will know that any card transactions from that location were likely authorized by you. Check with your credit card issuer to see if they have travel notification capabilities.

Traveling outside your city

If you're traveling to an area not far from home, it's unlikely that any credit card charges will be declined, so setting a travel notification may not be a necessity.

Traveling outside your state

As you travel further from home, the chance of charges being declined is higher. If you're visiting another state, you can notify your credit card company that you're going away to avoid any hassles as you travel.

Traveling outside your country

You should definitely consider filing a travel notice for every trip outside your country. If you don't file a travel alert with your card issuer, your credit card may get declined and you might need to contact your credit card company to approve your transactions. If you're in a different country you may have trouble with making an international call, an inconvenience that can prevent you from authorizing your charge and enjoying your trip.

Which credit cards require a travel notice?

Not all credit card companies recommend that you set a travel notice before you go away, including those with EMV chips that may provide added security when you travel. If your credit card doesn't have an EMV chip, you should contact your bank before you leave to make sure your trip goes smoothly.

Multiple credit cards

If you own multiple credit cards, you should set travel notifications for each of the cards you plan to use on vacation. Even if you plan to use one of the cards only in case of emergency, set a travel alert for it just in case.

Risks of not filing a credit card travel notice

If you don't give your credit card issuer a travel notice, the company won't know that you'll be making purchases in a new location. If the company starts to see charges on your credit card from a different state or country, it may flag these transactions as fraud. The credit card issuer may then put your account on hold and prevent you from making any purchases until you can authorize the charges.

Once a credit card is declined, the cardholder has to call the issuer or provide an app verification in order to prove that the purchase made was authorized. You may have difficulties contacting your bank for various reasons, such as if your vacation spot has bad cell service or if you didn't set up international calling for your phone plan. Notifying your credit card company before you leave on vacation will help you avoid this hassle.

How to notify your credit card company of travel

You can notify your credit card issuer about your vacation over the phone, online, through a mobile app or in person. You can also contact your credit card issuer to get a better understanding of how to set a travel notice.

Setting your travel notice online or through a mobile app

Setting your travel notification online or through an app can be easier than speaking with customer service, depending on your preferences. Log into your account on your credit card company's website or app and search for “travel notice" options. If you're unable to find where to set your travel notice, get in contact with your credit card issuer.

Setting your travel notice over the phone or in-person

To set a travel alert for your credit card over the phone, call the number on the back of your card to get in touch with your bank. The customer service line will either let you speak to a representative on the phone or work with an automated system. If you have any questions or concerns about your travel notice, calling your credit card company is a good method to set the notification.

If you want to set your travel notice in person, go to your nearest branch to meet with a representative. Meeting face-to-face gives you the chance to ask any questions you might have.

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Discover how expats feel about living and working abroad by reading our annual Expat Explorer survey

Expat Explorer paints a picture of growing global confidence

"For 14 years, HSBC has commissioned Expat Explorer: the longest-running survey that examines the lives of those who relocate abroad. The 2021 study is the broadest look at expat living to date, with expats from a record-breaking 46 countries and regions sharing their views.

Helping our customers understand, navigate and succeed in an increasingly globalised world is at the heart of everything we do, as we strive to support those living abroad."

Cameron Senior, Interim Head of HSBC Expat

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British oilfield services and engineering firm John Wood Group rejected a potential 1.42 billion pound ($1.77 billion) buyout proposal from Dubai-based firm Sidara on Wednesday, saying it "undervalued Wood and its future prospects".

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More From Forbes

The world’s 15 safest cities (2 u.s. cities made the list), ranked in a new report.

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Seoul—one of the safest cities for millennial travelers—at sunset.

Searching for the safest places to travel? Berkshire Hathaway Travel Protection (BHTP) recently unveiled its annual State of Travel Insurance Safest Destinations report , which ranks the world’s 15 safest cities to travel. This year, two U.S. cities made the list, with Honolulu named the safest city in the world.

“BHTP’s State of Travel Insurance Safest Destinations report is unique in its ability to pair firsthand, survey respondent experiences with valuable third-party sources in order to identify its annual list of Safest Destinations,” Carol Mueller, vice president at BHTP told me in an interview. “Only travelers who have actually been to the cities are allowed to rank them on a variety of safety measures, using their first-hand knowledge as a yardstick.”

In addition to surveying actual travelers who have visited the cities, BHTP analyzes several third-party data sources—including the U.S. State Department, The Economist and more—to evaluate safety concerns such as terrorism, weather emergencies, health measures and the safety of underrepresented groups.

Over the past four years, the report has witnessed notable changes, reflecting the evolving travel landscape. While Scandinavian nations and Northern Europe traditionally dominated the list, this year’s report showcases a diverse lineup, with Asian and South American cities making their mark.

Honolulu, which has been named the safest city in the world on a new report.

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For 2024, Honolulu claims the coveted first spot. Despite its vulnerability to natural disasters, Honolulu impresses travelers with its overall safety, making it an ideal travel destination. “Even Honolulu’s lowest marks are the highest of any destination in that category,” says Mueller. “Though the island’s volcanic origin and location in the Pacific make it an obvious target for a variety of natural disasters, from wildfires to typhoons, surveyed travelers perceive Honolulu as an incredibly safe destination for their tropical vacations.”

Coming in second on the list is Montreal. The Canadian city is recognized—above all—for its transportation safety, where it gets the highest marks. One concern, according to BHTP: wildfires, since smoke from fires in northern Quebec can drift down to Montreal, impacting the air quality.

A view of of Old Montreal, which comes in second on the list of safest cities.

Reykjavik, Iceland comes in number three on the list of safest cities. According to BHTP, its high ranking is due to its excellent scores for women, people-of-color and LGBTQ+ safety, as well as safety from terrorism.

Rounding out the top five is Sydney, Australia (which receives consistent safety marks from travelers) and Amsterdam in the Netherlands (which ranks highly for safety for women, LGBTQ+ travelers and people of color).

The only other U.S. city on the list of world’s safest cities is Orlando, Florida, which comes in at number 15. Renowned for its theme parks and family-friendly attractions, Orlando gets high ratings for transportation safety and safety against terrorism. “While we’d caution travelers against chasing golf balls near Lake Jesup, which is home to about 10,000 alligators, Orlando has high ratings for transportation safety and safety against terrorism,” says Mueller. “This should come as no surprise—you rarely hear about disasters aboard the Walt Disney World Railroad.”

The skyline of Orlando, Florida, which is on the list of the safest cities in the world in 2024.

As travelers navigate the intricacies of safety, the report also offers insights into each city’s unique challenges and precautions. From concerns about wildfires in Honolulu to political demonstrations in Barcelona, travelers can make informed decisions to ensure their safety during their journeys.

Beyond the overall rankings, the report also ranks cities according to the nuanced safety concerns of different traveler segments, from millennials to LGBTQ+ travelers prioritizing inclusive destinations.

Read on for the lists of the world’s safest cities to travel, as well as lists from the perspective of various traveler segments.

An aerial view of Honolulu and Diamond Head.

The World’s Safest Cities To Travel in 2024

In addition to being ranked top safest city overall, Honolulu was also named the world’s safest city ... [+] for women, LGBTQ+ and BIPOC travelers.

Safest Cities for Women/LGBTQ+/BIPOC Travelers

Seoul is named the world's safest city for Millennial travelers.

Safest Cities for Millennial Travelers

According to BHTP, Millennials (ages 25-44) tend to travel farther afield. “Hence, the high ratings for Singapore, Dubai and Seoul,” say the authors of the report.

Copenhagen is named the safest city for mature travelers.

Safest Cities for Mature Travelers

“Beijing’s presence here is a little surprising,” say the authors of the report. “But everything else is as expected.”

Seoul is named the top city for families. Pictured here: walking on the grouds of the Gyeongbokgung ... [+] Palace.

Safest Cities for Families

“Parents find Asian destinations safe,” say the authors of the report. “Hence, four of them made their top 10.”

Island life and island colors in San Juan, Puerto Rico, named the safest city for LGBTQ+ travelers.

LGBTQ+ Travelers

“Puerto Rico’s top city doesn’t show up anywhere else but here,” say the authors of the report. “Also note that despite discriminatory laws towards LGBTQ+ travelers, they still consider Dubai to be an extremely safe destination.”

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Reddit Stock Soars After Reporting Record User Traffic in First Earnings Report Since IPO

Michael Nagle / Bloomberg / Getty Images

Key Takeaways

• Reddit shares soared in extended trading Tuesday after the company released its first quarterly earnings report since it began trading in March.
• The social media company's first-quarter revenue was $243 million, a 48% increase from the year-ago period, while ad revenue increased 39% year-over-year to $222.7 million. Both exceeded Bank of America analysts' expectations.
• Reddit's net loss of $575.1 million widened from a year ago, "driven by IPO charges."
• Reddit also reported record user traffic, with daily active unique user numbers growing 37% year-over-year to 82.7 million, topping Raymond James analysts' estimates.

Reddit ( RDDT ) shares soared over 13% in extended trading Tuesday after the social media company reported record user traffic and rising revenue in its first quarterly earnings report since its initial public offering (IPO) in March.

The company's revenue for the first quarter of 2024 was $243 million, a 48% increase from the year-ago period. Ad revenue increased 39% year-over-year to $222.7 million. Both figures were above Bank of America analysts' expectations of $212 million and $199 million, respectively.

Reddit reported a net loss of $575.1 million or $8.19 per share, widening from a loss of $60.9 million or 1.05 per share in the first quarter of 2023, "driven by IPO charges."

The company also reported record user traffic, with daily active unique users (DAUq) jumping 37% year-over-year to 82.7 million, ahead of Raymond James analysts' expectations .

"It was a strong start to the year and a milestone quarter for Reddit and our communities as we debuted as a public company,” Reddit CEO Steve Huffman said, adding that "we see this as the beginning of a new chapter as we work towards building the next generation of Reddit.”

The social media company said it anticipates revenue for the second quarter to be between $240 million to $255 million, with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) in the range of $0 to $15 million, compared to the $10 million it reported in the first quarter.

Reddit's stock price was up more than 13% at $55.90 in extended trading as of 5 p.m. ET Tuesday, an increase of about 64% from its IPO price of $34.

Reddit. " Reddit Announces First Quarter 2024 Results ."

Bank of America Securities. "Reddit - 1Q Preview: Positive User and Industry Trends Suggest 1Q Upside."

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HSBC chief Noel Quinn to step down after ‘intense’ five years

Bank says it has started search for a successor as it reports quarterly profits beat forecasts

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The chief executive of HSBC , Noel Quinn, is unexpectedly stepping down after an “intense” five years in the role, as the bank reported better-than-expected profits.

Europe’s largest bank has kicked off a search for a successor and said Quinn, 62, will stay in the post until a new chief executive is found. It is looking at both internal and external candidates. Quinn is an HSBC veteran who joined the bank in 1987.

The London-based lender reported an 1.8% drop in pre-tax profit to $12.7bn (£10.1bn) in the first three months of 2024, better than analysts had forecast. Revenues increased by 3% to $20.8bn. HSBC said it would buy back up to $3bn of its shares.

Quinn became chief executive, initially on an interim basis, when John Flint was ousted in 2019 after just 18 months. He immediately had to navigate the bank through the pandemic after being made permanent in March 2020, and slashed 35,000 jobs to save £3.5bn a year . Under his leadership, the board fended off demands from top shareholder Ping An to split off HSBC’s Asian business .

Quinn said: “After an intense five years, it is now the right time for me to get a better balance between my personal and business life.”

He added that he would “take a breather” and spend some time with his extended family, and would consider other opportunities once “I’ve had a rest”.

Quinn’s pay roughly doubled to £10.6m last year, when HSBC reported record profits. He has spent 37 years at HSBC, starting his career at Midland Bank and various subsidiaries, and ran its global commercial banking business from 2015. “I would never have dreamed of being the CEO of this bank 37 years ago, and it’s a privilege,” he said.

He added: “I think it’s right for me but I also think it’s right for the bank. The next phase of the journey, continuing to grow and develop the business is a multi-year phase, and it’s right to hand that challenge, that opportunity on to the next leader.”

The HSBC chair, Mark Tucker, said it was Quinn’s decision to retire. He added: “He has driven both our transformation strategy and created a simpler, more focused business that delivers higher returns”.

Quinn has revamped HSBC in recent years, selling off its retail banking businesses in France, the US, Canada and most recently Argentina to sharpen its focus on Asia, where the bank makes most of its profits.

Quinn, who supports Aston Villa football club, joked that the only point of difference between him and Tucker over the past five years had been over football, as Tucker is “an ardent Chelsea supporter”.

Russ Mould, the investment director at AJ Bell, said: “It’s a surprise to see Noel Quinn announce plans to step down as chief executive of HSBC. It felt like he was on a roll with efforts to simplify the group and improve returns.

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“He is getting out while the going is good, destined to be seen as the man who fixed HSBC and positioning himself as a go-to person for strategic advice.”

HSBC’s net interest income, the difference in loan charges compared with what is paid out to savers, fell by $300m to $8.7bn as some customers moved their accounts. Non-interest income increased by $900m, reflecting a rise in trading income of $1.3bn, mainly in global banking and markets.

The bank wants to take advantage of the UK’s decision to scrap the banker bonus cap , which was introduced after the 2008 financial crisis and limited bonuses at twice an individual’s base salary. HSBC needs to change its own corporate rules to be able to pay out larger bonuses and is asking shareholders to approve the changes at its annual meeting on Friday.

Quinn said: “We haven’t yet determined the full detail of this implementation. But we wanted to at least get the flexibility to reflect more in variable pay the performance of the bank, and that hasn’t been possible with the two-for-one cap.”

Shareholder approval would allow HSBC to pay out much larger bonuses to its executives and hundreds of its most highly paid bankers, who are referred to as “material risk takers”.

More on this story

Noel Quinn’s exit seems respectable but big uncertainties about HSBC remain

HSBC urges investors to back AGM vote opening way to higher bonuses

HSBC shares suffer biggest one-day drop in nearly four years

Hsbc fined £57m over ‘serious’ deposit protection failings.

Thousands of HSBC customers in UK unable to access online banking services

Higher interest rates help HSBC to more than double profits

HSBC executive apologises for calling UK weak over China

HSBC more than doubles profits as interest rates soar

HSBC to move out of Canary Wharf headquarters due to hybrid working

Labour criticised for giving global banks access to parliament

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Expat Lifestyle

Thriving quality of life for those living abroad

Two thirds of expats report a better quality of life since relocating, the latest Expat Explorer study finds.

Despite a challenging year, expats are feeling optimistic. As the world re-opens, there's a desire to explore all the opportunities a new community or different culture has to offer. For those who have decided to relocate, there seems to be little sign of regret.

Expats lifestyles in 2021

The 2021 edition of Expat Explorer finds that the majority (67%) of those who live abroad believe their quality of life is better now than in their home country or region. Additionally, more than half of expats (61%) say they have experienced little change to their work situation due to Covid-19.

Overall, things are looking up. Nearly half of expats say their communities have become more supportive in the wake of the pandemic. And more people felt able to settle in quickly this year than in 2020 (23% versus 19%, respectively).

Travel and understanding the local culture are now topping the list of expat priorities in 2021. More traditional factors like career progression remain important, but are less of a factor this year than in others.

Of course, many expats still move abroad with their families, and moving abroad still offers a host of benefits for children. Nearly half (43%) of expat children are perceived as having more confidence and a wider skill set since relocating abroad.

The UAE, Qatar, Singapore, Bahrain, and Malaysia are countries where expat children are observed to learn openness to new cultures​. Furthermore, alongside the Philippines and South Africa, India was called out by expats as a top location for children to make friends.

In terms of wellbeing, Australia has ranked highest at 62%, followed closely by Switzerland (61%) and New Zealand (61%). When it comes to the places where expats feel most fulfilled, Indonesia and the UAE rank highest. 51% of expats describe these as destinations where they can achieve a sense of fulfilment, followed by India (49%), and Taiwan (48%). This comes as Cyprus – another new addition – ranked highly in many elements of expat living, ranked fifth for expat destinations overall.

Getting the full picture

Helping our customers understand, navigate and succeed in an increasingly globalised world is at the heart of everything we do to support those that relocate abroad.

says Cameron Senior, Interim Head of HSBC Expat.

Being able to fully empathise and respond to the realities of expat life is key, which is why we're so committed to conducting the global Expat Explorer study year on year. The more insights we have, the better placed we'll be to provide products and services that genuinely meet the needs of our customers, wherever they are in the world.

View the 2021 Expat Explorer league table

All Expat Explorer survey data and all tips (in quotation marks) are provided by HSBC.

This information does not constitute advice and no liability is accepted to recipients acting independently on its contents. The views expressed are subject to change.

The Expat Explorer survey, in its fourteenth year in 2021, is the longest running independent global survey of expats. Commissioned by HSBC Expat and conducted by a third party research company YouGov, 20,460 expats based in over 46 countries and regions were questioned in April and May 2021.

In order for the results and league tables to be statistically significant, we need a minimum sample size of 100 expat respondents from each location. Although we had respondents from over 100 locations this year, 46 met the minimum number of responses required.

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Reddit shares soar after company reports strong first-ever earnings with record user traffic

• Reddit beat expectations for its first financial quarter as a publicly traded company.
• Strong revenue growth and record user traffic sent the stock price up 16% in after-hours trading.
• R&D expenses were up four times compared to last year.

Reddit just delivered a big first quarter as a newly public company .

The social media platform beat analyst expectations Tuesday when it reported revenue of $243 million, up 48% from the same period last year. The company also boasted a record 82.7 million daily active users, up 37% from the year before.

"It was a strong start to the year and a milestone quarter for Reddit and our communities as we debuted as a public company," co-founder and Reddit CEO Steve Huffman said in a statement. "We see this as the beginning of a new chapter as we work towards building the next generation of Reddit."

Related stories

While still not yet profitable, the net loss of $8.19 a share was below the $8.75 a share loss that investors were bracing for.

"On a non-GAAP basis, adjusted EBITDA was approximately $10 million in the first quarter," CFO Drew Vollero told investors on the company's earnings call. "This marks our first profitable Q1 on adjusted EBITDA basis, which in digital advertising is traditionally the slowest quarter of the year."

Meanwhile, research and development costs soared by 300% year-over-year as the company beefed up its AI partnerships and advertising strategy. The company said its performance advertising segment drove more than half of the revenue growth for the quarter.

"The real money printer here is Reddit's AI data licensing deals, like the $60 million per year agreement with Google," said Jeremy Goldman, an analyst at Emarketer, a sister company to Business Insider. "With its distributed human moderation, Reddit is well-positioned to detect and prevent AI-generated spam, giving it an edge over rivals."

On the earnings call, Huffman said the company's near-term priorities are improving retention, search performance, and translating the site's content into languages other than English, which would help tap into international markets.

Huffman also said when it comes to third parties training their AI models on Reddit content for free, the days are numbered.

"I don't think companies that have taken or continue to take our data can expect to continue to do so with no repercussions," he said.

Watch: What happens when Elon Musk moves markets with a tweet

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