Norwegians add more to their holiday budget

Norwegian households plan to spend an average of 24,300 kroner on their summer holiday this year according to a YouGov survey.

The survey was conducted for the bank Nordea. It showed that the amount Norwegians budget for their holiday is 16% higher this year than they planned for last year.

“Much indicates that Norwegians are far more optimistic for their own financial future nowadays,” said economist, Elin Reitan, at Nordea - writes norwaytoday.info

“Increased optimism makes the money a bit looser, especially for events we prioritise highly, such as summer holidays,’’ she said.

Blue Monday?

She nevertheless gave a warning, and reminded consumers that after the summer,an interest rate hike is expected.

‘’It’s easy to come home to a financial blue Monday if you do not make a plan for your spending. The money may be a bit looser when we are on vacation, and then it is easy to spend it over one’s ability to repay it. With a good budget for how much you can and will use, you can easily keep track of the use of your money,’’ she advised.

The survey showed that those planning holidays in Norway aim to spend only NOK 12,500, while those who are going abroad will have a much higher budget of NOK 30,400. Western Norwegians will spend the most money during the summer vacation, 26,600 kroner, while southerners will pay close to 20,900 kroner.

The 800 who participated in the survey had responded to how much they think the summer vacation will cost in total for their household.

147 billion kroner

In the new year, a survey from the trade organization, ‘Virke Reise’ showed another picture of Norwegian’s planned holiday consumption. It indicated that the holiday budgets for Norwegian households is tighter this year than last year.

Norwegians spent roughly NOK 147 billion on short and long holiday trips last year showed figures from Statistics Norway (SSB). This corresponds to approximately NOK 27,800 per capita.

Read more news of Tallinn on our site.

norwaytoday.info/
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