However, an overwhelming 42 per cent in the survey conducted by Visa thought that carrying less cash, as compared to cards, would be safer while travelling.

Business travellers are more likely to use electronic payment cards (59 per cent) as the primary payment method while overseas, while leisure travellers prefer cash (58 per cent) over cards.

Of those who do carry cash, those 40 years or older are more likely to carry larger sums of cash - an average of S$1,849, while respondents between 18 and 39 carried up to an average of S$1,530.

The survey, which polled people from Singapore, Australia, New Zealand, Korea, Japan, India, Malaysia, Thailand, China, Hong Kong and Taiwan, also discovered that New Zealanders carried the most cash - with an average of $2,194, followed by Australians with $2,086 and Indians carrying S$2,071.

It was also found that most people generally relied on ATMs to withdraw more cash while they were overseas.

'When people are planning their holidays - be it a weekend away or a longer overseas holiday - one thing they consider is the best way to carry money,' said Meranda Chan, country manager, Singapore and Brunei, Visa.