Ferratum Group, a pioneer in financial technology and mobile lending, conducted a survey in 17 European countries regarding spending behavior during the summer season. The survey was answered by 5,685 middle-class families.
Over 30% of survey participants plan higher vacation spending this summer compared to the previous year, while 40% maintain the same spending as in the summer of 2014. However, the survey highlighted surprising differences between countries.
According to the Ferratum Summer Barometer, 16% of Romanians will spend the most on domestic travel, 14% on day-trip entertainment activities, and only 10% will spend on international travel.
Among the 17 European countries, Romania positions itself slightly above average, with 49.7% of respondents dedicating nearly 50% of monthly family income to vacation expenses—equivalent to 291 EUR—while the European average is 47.2%.
For the summer vacation, Romanians spend nearly double the budget allocated for winter vacations (47% in summer, compared to 25% in winter).
In Eastern European countries, the relative amounts allocated for vacation are much higher than in the West. With the exception of Spain, the countries that spend the most on vacations are those in Eastern Europe—above the average disposable income—specifically 47%. According to the survey, Estonia and Latvia are at the top of this list, with vacation spending exceeding 60% (Estonia – 629 EUR, Latvia – 621 EUR).
Denmark and Germany dedicate the smallest budgets to summer vacations—27% and 28%, respectively.
In Western Europe, there are large differences between countries regarding the amounts related to this summer’s vacations. A middle-class Danish family allocates only 27% of the family’s disposable income for summer vacation, while Spaniards allocate about 55% to travel, relaxation, and summer trends. Holding the second place in the ranking of the most spending Western countries is Sweden, where the percentage is 41%.
Domestic travel constitutes the most frequent expenses in the European Summer Barometer, representing an average of 17% of a family’s disposable income.
On the other hand, the most passionate foreign tourists this summer are the Dutch and the British—17%, followed by the Danes and Swedes—15%, Germans—13%, and Bulgarians—12%.
Clubbing, restaurants, and the beach involve the second category of vacation spending among the 17 countries in the study; in first place is Spain, which spends 24% of total funds allocated for social activities, followed by Denmark and Sweden, which allocate 16% of funds. These are followed by Poland and Croatia, which intend to spend approximately 15% of total funds allocated for social activities.
Summer festivals or sporting events are not as popular among the middle class as might have been expected. Only 5-6% of spending goes toward such events.
The survey was conducted in 17 European countries where the Ferratum Group operates and was presented in the form of a standardized web questionnaire for all locations.
Incomes were declared in local currency, and the relative investment for summer is calculated as the ratio between summer expenses and the disposable income of a family in each location. Disposable incomes were adjusted according to individual purchasing power parities in each location based on 2014 figures provided by the World Bank.
5,685 families from 17 European countries participated in the survey, and respondents are aged between 21-65 years (of which 60% are women). The average net disposable income of the participating families is between 720 – 3,800 EUR.
Source: Daily Business
Frequently Asked Questions
How much do Romanians spend on summer vacations?
According to the Ferratum survey, Romanians allocate approximately 49.7% of their monthly family income, which averages around €291.
What are the top vacation expenses for Romanians?
The primary expenses include domestic travel (16%), day-trip entertainment activities (14%), and international travel (10%).
How does Romania compare to other European countries in vacation spending?
Romania ranks slightly above the European average of 47.2%, with Eastern European countries generally spending a higher percentage of their income on holidays compared to Western nations.