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Estonians and Latvians spend the most money during holidays

Photo: LETA.
The general financial state in Europe continues to improve – more than 30% of households plan to spend more money during holidays this year. Latvia and Estonia are at the top of this list.

Summer is the perfect time for leisure. This is proven with residents’ plans in terms of expenses – residents allocate an average of 47% of the household’s monthly income. Latvians and Estonians are at the top of the list with 60% (EUR 621 in Latvia and EUR 629 in Estonia). Latvians are on the 5th place with 55% or EUR 569, according to results of Ferratum Bank study European Summer Barometer.

Latvian families spend most of their holiday expenses (up to 19%) on home and garden. Their Baltic neighbours spend less on this: 13% with Lithuanians and 14% with Estonians. The average in Europe is 12%.

The trend to travel around a home country is found across Europe. In Latvia, this trend takes 2nd place – respondents allocate 15% of their holiday funds to this. Neighbours do it even more often: Lithuanians plan on spending 21% of their funds and Estonians – 18%. The average proportion in Europe is 17%.

The 3rd place in terms of holiday expenses in Latvia is held by celebrations and all kinds of events. Latvians allocate the most money to such events – 14% of their monthly income. Estonians spend 13% and Lithuanians spend significantly less. The average proportion in Europe is 10%.

People gladly buy new closes during summer. Latvians spend 10% of their monthly income on this; Estonians spend 9% and Lithuanians – 16%. The average proportion in Europe is 12%.

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