More than 70% of European investors spend up to 5,000 USD on summer holidays
The investment platform Robo.cash conducted a survey to define the most common types of spending. The overwhelming majority of European investors intend to include summer vacation in their budget. In particular, 72.2% of them are willing to spend up to 5,000 USD and almost 7% are ready for bigger spendings. The number of respondents who chose investing as their largest expense has doubled since 2019, leaving education and entertainment behind on the list.
Of those who are planning on a summer vacation, 43% expect to spend or have already spent between 1,000 USD to 5,000 USD. 5% are ready to allocate more than 5,000 USD for holidays, and only 2% are willing to double this amount. An additional 21% have no plans for the summer vacation.
Meanwhile, travelling fees are the top three expenses among investors, following housing (58.2%) and food (24.4%). Analysts of Robo.cash comment on the statistics: “There is no doubt that concerns about the global crisis are keeping people from travelling. Still, the fact that the majority of respondents plan to invest or have already invested in summer holidays (79%) shows that people don’t want to miss the opportunity to take time off, despite the pandemic unpredictability”.
Interestingly, another expense item - investing - doubled compared to 2019, lifting up from 6th to 4th place in the list of general expenses, according to the platform’s survey. "The growth in demand for investment and savings is reasonable given the current uncertainty,” the analysts add. “As stated by the latest Eurostat report, the household saving rate in the euro area increased by 11% in the first quarter of 2021 compared to the end of 2020. There is no doubt that maintaining stable reserves inspires confidence and helps to be more resilient to economic downturns in the future ”.
Robo.cash platform conducted a survey in June, with a total of 400 P2P investors from European countries taking part in it.