More than one in two people save for holidays

Result

More than half of Germans are cutting back in their daily lives to avoid spending the best weeks of the year at home. The younger generation is particularly likely to report saving for vacations, postponing purchases, going out less often, or consuming less. In contrast, this willingness is less pronounced among many older people, or is less frequently necessary or even possible. Differences can also be observed between various income groups, although these are smaller than perhaps expected – even 45 percent of higher earners report saving for their vacation.

Reasons

Although the reasons are undoubtedly numerous and vary from person to person, two key points can be identified.

First, there's the sheer necessity. Vacation expenses are high and usually can't be covered by regular income. Simply saving vacation money isn't often enough; it requires making compromises and cutting back in other areas of life. Income level isn't the deciding factor here, as higher salaries generally increase vacation entitlement, duration, and cost.

Secondly: the importance of vacation. For many people, vacation is and remains the highlight of the year. They work, plan, look forward to it, and save up, all to finally pack their bags and travel. The demands placed on vacation are correspondingly high, ranging from the desire for relaxation and the search for adventure to new impressions, new acquaintances, or time for oneself and family – the main thing is that the vacation offers a contrast to everyday life at home.

Forecast

The allure of vacations will remain strong in the future – however, they must also be affordable. Increasingly, more and more people will have to make sacrifices in their daily lives to be able to travel.

P.S. We will present information on Tuesday about how much money citizens are currently spending on holidays, how long they stay, where they travel most frequently, and what their travel plans for 2023 look like., February 7, 2023 at 10:00 AM, at an online press conference.

On the link You can access the online press conference here. The meeting room will open on the specified day – no prior registration is required.