Summer spending relative to disposable household income

SPENDING IN RELATION TO OTHER COUNTRIES

  • Bulgaria
    132 72%
  • Estonia
    131 72%
  • Lithuania
    130 71%
  • Latvia
    119 65%
  • Romania
    110 60%
  • Norway
    108 59%
  • Czech
    108 59%
  • Spain
    106 57%
  • France
    104 56%
  • Grand Total
    100 54%
  • Poland
    95 52%
  • Sweden
    83 45%
  • Denmark
    82 45%
  • Croatia
    74 40%
  • Germany
    72 39%
  • The Netherlands
    70 38%
  • Finland
    65 35%
  • UK
    62 34%

European and Commontwealth Summer spending 2017

  • Domestic travelling
    18%
  • SUMMER SOCIAL ACTIVITIES
    13%
  • Summer clothing and fashion shopping
    13%
  • SOCIAL EVENTS
    10%
  • Gardening or DIY
    9%
  • Personal or family recreational or sport activities
    9%
  • Travelling abroad
    8%
  • Summer festivals
    8%
  • Financing children’s summer activities
    7%
  • Recreational investments
    5%
  • Attending sporting events
    2%

Household Summer holiday spending forecast 2017

  • Less than last summer
    33%
  • More than last summer
    24%
  • Same as last summer
    43%

Like last summer, most money will be spent at home, not abroad

 

Almost 20% of European summer spending will be allocated to domestic travel, while only 8% are planning on traveling abroad.

Interestingly, only those in Spain put travel abroad at the top of their list on which they’re willing to spend up to 20% of their monthly income.

While Nordic countries are happy to pay more than 100 EUR per night for a hotel, the rest of Europe is more prudent.

Community marketplace Airbnb is most popular among people from Bulgaria, Sweden, Netherlands, and France, while it is least popular with those in the Nordics.

Tony Gundersen, UK Country Manager for Ferratum Group comments:

“This year’s Summer Barometer result reflects consumer’s continued uncertainty surrounding the UK economy. The results put UK summer spending at the lowest out of all the surveyed countries. As other nations become more confident and spend more this summer than last, the UK bucks the trend with consumers remaining cautious in regards to spending.

It’s interesting that for the second year in a row, more consumers are concentrating their summer activities on home ground rather than traveling abroad. The UK will be spending more on social activities, gardening and festivals than travel abroad. Indicating that consumer’s are saving their money and opting for cheaper alternatives closer to home”.

Mobile Banking Convenience for The Holidays

Last year, FerratumBank launched its revolutionary mobile platform in Germany, Sweden, and Norway, with France and Spain following this year.

This year, the number of people using their smartphone for private banking is expected to reach 1 billion globally. FerratumBank launched its mobile banking platform in five countries where, according to the 2017 Holiday Barometer™ survey, mobile banking usage is the highest across Europe. In fact, over 90% of Swedish households will be using mobile devices for daily transactions during the holiday season.

With FerratumBank, an online account can be opened in just five minutes. Customers can open multi-currency accounts in the most common European currencies and transfer money between accounts in real-time. Since a FerratumBank card debits monies in the local currency, customers avoid the exchange rate fees set by traditional banks and credit card companies while traveling abroad. Additionally, FerratumBank offers mobile loans and term deposits which yield up to 1.25% interest.

Tony Gundersen, UK Country Manager for Ferratum Group comments:

“The growing trend across all the countries highlights customer’s need for a modern approach to their banking needs. Customers increasingly value the speed and convenience offered by FerratumBank mobile banking services. Here in the UK, our mobile lending services are popular with customers who want to manage their finances wherever they are”.

Households utilising mobile banking services during holidays

  • Sweden
    92%
  • Poland
    86%
  • The Netherlands
    79%
  • Norway
    77%
  • Spain
    76%
  • France
    76%
  • UK
    76%
  • Lithuania
    73%
  • Finland
    66%
  • Croatia
    66%
  • Romania
    59%
  • Czech
    55%
  • Estonia
    52%
  • Latvia
    51%
  • Denmark
    40%
  • Germany
    39%
  • Bulgaria
    32%

Expenditure allocated for travelling (median)

  • Germany
    48%
  • Sweden
    44%
  • Norway
    41%
  • Bulgaria
    40%
  • The Netherlands
    38%
  • Finland
    36%
  • Poland
    35%
  • Croatia
    34%
  • Romania
    34%
  • Spain
    33%
  • Estonia
    31%
  • UK
    30%
  • Lithuania
    27%
  • France
    20%
  • Latvia
    19%
  • Czech
    17%
  • Denmark
    12%

Willingness to pay for a hotel night more than 100 €

  • Finland
    83%
  • Sweden
    80%
  • Denmark
    69%
  • Norway
    68%
  • Spain
    65%
  • France
    62%
  • Estonia
    44%
  • Lithuania
    40%
  • The Netherlands
    38%
  • UK
    34%
  • Latvia
    22%
  • Germany
    19%
  • Poland
    17%
  • Czech
    6%
  • Croatia
    5%
  • Romania
    1%
  • Bulgaria
    1%

Households planning to utilise AirBnB services during holidays

  • Bulgaria
    56%
  • Sweden
    53%
  • Germany
    43%
  • The Netherlands
    41%
  • France
    38%
  • Estonia
    34%
  • Romania
    31%
  • Czech
    28%
  • Spain
    24%
  • Latvia
    24%
  • Norway
    23%
  • Denmark
    22%
  • Poland
    22%
  • UK
    18%
  • Croatia
    17%
  • Finland
    17%
  • Lithuania
    9%

Holiday financing preferences

  • Partly with Ferratum Loans
    49%
  • Partly with credit cards
    22%
  • With savings
    14%
  • Partly with loans from other financial institutions
    10%
  • With savings
    5%

Top Summer holiday spending behaviour

Domestic travel is the most popular way people will spend this summer (18%), followed by social activities (e.g. a day at the beach, dining at restaurants, going to clubs, etc.), and summer fashion (13%).

In Latvia and Lithuania, approximately one-fifth of holiday spending will be spent on clothing. The least popular options this summer are sports and recreational activities, on which survey participants say they are not prepared to spend more than 5%.

Results from this year’s Summer Barometer™ show Gardening and DIY as the number one options for those in Bulgaria, Denmark, the Czech Republic, France, Finland, Croatia, and Estonia. The UK will spend 15% on summer activities while respondents from The Netherlands will allocate 16% on summer festivals. Meanwhile, spending on children’s activities will be the highest in Norway (16%), Romania (18%), and Poland (19%).

Lithuania
  • Summer clothing and fashion shopping
    25%
  • Financing children’s summer activities
    13%
  • Recreational investments
    12%
  • Personal or family recreational or sport activities
    9%
  • Travelling abroad
    9%
  • Spending in relation to other countries: 130 (FE group = 100)
  • Spending relative to household income: 71% (1357 €)
Estonia
  • Gardening or DIY
    17%
  • SOCIAL EVENTS .
    12%
  • Summer clothing and fashion shopping
    11%
  • Attending sporting events
    10%
  • Personal or family recreational or sport activities
    10%
  • Spending in relation to other countries: 131 (FE group = 100)
  • Spending relative to household income: 72% (1426 €)
Romania
  • Financing children’s summer activities
    18%
  • Gardening or DIY
    17%
  • Attending sporting events
    13%
  • Personal or family recreational or sport activities
    9%
  • SUMMER SOCIAL ACTIVITIES
    9%
  • Spending in relation to other countries: 110 (FE group = 100)
  • Spending relative to household income: 60% (860 €)
Poland
  • Financing children’s summer activities
    19%
  • SOCIAL EVENTS .
    18%
  • SUMMER SOCIAL ACTIVITIES
    12%
  • Domestic travelling
    9%
  • Summer clothing and fashion shopping
    8%
  • Spending in relation to other countries: 95 (FE group = 100)
  • Spending relative to household income: 52% (939 €)
Spain
  • Travelling abroad
    20%
  • Financing children’s summer activities
    18%
  • SOCIAL EVENTS .
    15%
  • Personal or family recreational or sport activities
    9%
  • Summer clothing and fashion shopping
    8%
  • Spending in relation to other countries: 106 (FE group = 100)
  • Spending relative to household income: 57% (1467 €)
Bulgaria
  • Gardening or DIY
    24%
  • Domestic travelling
    21%
  • SUMMER SOCIAL ACTIVITIES
    11%
  • Summer clothing and fashion shopping
    10%
  • SOCIAL EVENTS .
    8%
  • Spending in relation to other countries: 132 (FE group = 100)
  • Spending relative to household income: 72% (869€)
UK
  • SUMMER SOCIAL ACTIVITIES
    15%
  • Gardening or DIY
    14%
  • Summer festivals (music, film, theatre, comedy, etc.).
    12%
  • Personal or family recreational or sport activities
    11%
  • Recreational investments
    11%
  • Spending in relation to other countries: 62 (FE group = 100)
  • Spending relative to household income: 34% (1008€)
Denmark
  • Gardening or DIY
    21%
  • Summer clothing and fashion shopping
    18%
  • Personal or family recreational or sport activities
    12%
  • Summer festivals (music, film, theatre, comedy, etc.).
    9%
  • Travelling abroad
    9%
  • Spending in relation to other countries: 82 (FE group = 100)
  • Spending relative to household income: 45% (970 €)
Czech Republic
  • Gardening or DIY
    20%
  • Personal or family recreational or sport activities
    15%
  • SOCIAL EVENTS .
    11%
  • Financing children’s summer activities
    10%
  • Domestic travelling
    10%
  • Spending in relation to other countries: 108 (FE group = 100)
  • Spending relative to household income: 59% (1378 €)
Sweden
  • Domestic travelling
    18%
  • Travelling abroad
    18%
  • Financing children’s summer activities
    16%
  • Gardening or DIY
    11%
  • Personal or family recreational or sport activities
    6%
  • Spending in relation to other countries: 83 (FE group = 100)
  • Spending relative to household income: 45% (1532 €)
Latvia
  • Summer clothing and fashion shopping
    20%
  • Gardening or DIY
    17%
  • SOCIAL EVENTS .
    15%
  • SUMMER SOCIAL ACTIVITIES
    14%
  • Attending sporting events
    9%
  • Spending in relation to other countries: 119 (FE group = 100)
  • Spending relative to household income: 65% (1127 €)
Croatia
  • Gardening or DIY
    17%
  • Attending sporting events
    16%
  • Recreational investments
    15%
  • Personal or family recreational or sport activities
    15%
  • Summer clothing and fashion shopping
    7%
  • Spending in relation to other countries: 74 (FE group = 100)
  • Spending relative to household income: 40% (650 €)
France
  • Gardening or DIY
    17%
  • Financing children’s summer activities
    17%
  • Domestic travelling
    13%
  • Summer festivals (music, film, theatre, comedy, etc.).
    12%
  • Travelling abroad
    10%
  • Spending in relation to other countries: 104 (FE group = 100)
  • Spending relative to household income: 56% (1623 €)
Norway
  • Financing children’s summer activities
    16%
  • Summer festivals (music, film, theatre, comedy, etc.).
    16%
  • Summer clothing and fashion shopping
    13%
  • SUMMER SOCIAL ACTIVITIES
    13%
  • Attending sporting events
    10%
  • Spending in relation to other countries: 108 (FE group = 100)
  • Spending relative to household income: 59% (2903 €)
Finland
  • Gardening or DIY
    21%
  • Travelling abroad
    13%
  • Summer clothing and fashion shopping
    13%
  • Summer festivals (music, film, theatre, comedy, etc.).
    10%
  • SUMMER SOCIAL ACTIVITIES
    10%
  • Spending in relation to other countries: 65 (FE group = 100)
  • Spending relative to household income: 35% (1068 €)
Netherlands
  • Summer festivals (music, film, theatre, comedy, etc.).
    16%
  • Recreational investments
    16%
  • Domestic travelling
    12%
  • Attending sporting events
    11%
  • Travelling abroad
    10%
  • Spending in relation to other countries: 70 (FE group = 100)
  • Spending relative to household income: 38% (1361 €)
Germany
  • SUMMER SOCIAL ACTIVITIES
    21%
  • Personal or family recreational or sport activities
    15%
  • Domestic travelling
    13%
  • Travelling abroad
    11%
  • Summer clothing and fashion shopping
    9%
  • Spending in relation to other countries: 72 (FE group = 100)
  • Spending relative to household income: 39% (1145€)