$247 million of 'forgotten' cash in Singapore homes

SINGAPORE - An average Singaporean has an estimated $177 of leftover holiday cash in their home, according to new research by travel site Skyscanner.

That amounts to a whopping $247 million of foreign currency, ranging from Malaysian Ringgit to British Pounds, lying unused in Singapore homes.

1.4 million Singaporeans aged 15 and above travel abroad each year, according to government statistics.

98 per cent of the 1,000 Singaporeans surveyed said that they bring back unused foreign cash from their vacations, with 54 per cent estimating the amount to be more than $100. Another 14 per cent said they kept $50 to $100 worth of leftover holiday cash.

"Many travellers may choose to spend the last of their holiday cash at the airport, but it's clear that not everyone has time to do so," said Skyscanner's marketing manager for Singapore, Ms Ira Noviani. "In fact, many Singaporeans may prefer instead to hold onto their cash for their next trip."

ysheryl@sph.com.sg