SSwedes are not saving for their vacation this year either. Instead, their vacation budget is increasing to an average of almost 22,000 kronor – an increase of 16 percent compared to last year. This is according to Nordea's latest vacation survey conducted by Kantar Sifo.
– It is surprising that Swedes plan to spend more money on their summer vacation, despite high inflation, a weak krona and rising interest rates, says Ingela Gabrielsson, private economist at Nordea.
Among Swedish holidaymakers, nearly one in two (48 %) say they are experiencing increased living costs, for example for fuel, electricity, food and interest. This year, there are more compared to the survey before summer 2022, when 41 percent stated this.
This year, Swedes' concern about uncertainty in the world around them has decreased significantly. Only 17 percent are now worried, compared to 35 percent last year. What Swedes worry about most is mainly bad weather or not having enough money.
– We have gotten used to the new, more unsettled situation and don't feel so affected by it anymore. Even though things haven't really gotten any calmer in the world. The holidays are important and now we want to relax.
Holiday celebrations differ depending on where in Sweden you live, and it is mainly in the metropolitan regions that the most is spent on holidays. In Stockholm, the holiday fund is the highest in the country, just over 26,000 kronor. Closely followed by Gothenburg with just over 25,000 kronor. People spend the least in southern Sweden with a budget of only 19,000 kronor.
We are seeing a steady increase in Swedes' holidays abroad, with nearly one in three (28 %) planning to travel abroad on holiday, compared to 21 percent last year. However, there is still a majority, 60 percent, who say they intend to holiday in Sweden.
– I am worried about the autumn as we will certainly be faced with new expenses when the holidays are over. We can expect continued high prices, perhaps a further increase in the key interest rate, and who knows what electricity prices will be like this winter? I really hope that the Swedes have thought through their holiday costs, says Ingela Gabrielsson.
– It is now more important than ever to make a careful budget, and have good savings that can cover all summer costs.
According to the press release.
About the survey:
The survey was conducted from April 28 to May 2, 2023. The survey was conducted among approximately 1 000 men and women aged 18-65 in Sweden on behalf of Nordea via Kantar Sifo's web panel. The sample is representative of the Swedish population in terms of gender, age and region.
