Inflation will limit the holiday budget of many Austrians this year, according to research by Integral. There are a few things to keep in mind so that you don’t fall into the cost trap during your long-awaited vacation. The “crown” gives an overview.
Households are not only confronted with higher prices for daily groceries, but also when planning their summer holidays in 2023. According to a current Integral study commissioned by Erste Bank, a third indicate that they are extra careful when calculating their summer holidays this year .
Young people are looking for ways to save
This behavior is even more pronounced among young people under the age of 30: even half of the respondents want to cut back on holiday expenses. “Recreation and travel are considered the main drivers of inflation for a reason. If you don’t want to spend your vacation within your own four walls, you’ll have to dig much deeper into your pocket than before for flights, hotels and restaurants. However, there is a smaller savings potential, at least when making payments or when converting to a foreign currency,” explains Martin Jäger, spokesman for the Vorarlberg savings banks.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
