Portuguese plan to spend more on summer vacations this year.

Study concludes that the Portuguese plan to spend more on summer vacations in 2024.

According to data from Observador Cetelem, a commercial brand of the BNP Paribas Personal Finance group, regarding the intentions for the summer holidays of the Portuguese in 2024 and shared by Notícias ao Minuto, it is estimated that this year spending will be higher. (URL: https://www.noticiasaominuto.com/economia/2595863/estas-ferias-de-verao-os-portugueses-preveem-gastar-mais-diz-estudo)

During this summer vacation, the Portuguese plan to spend, on average, 1,005.57 euros - an amount higher than the 2022 average, by 54 euros.

However, compared to the level recorded in 2019, the Portuguese predict spending 347 euros less in 2024.

Compared to last year, ¼ of Portuguese intend to spend more, 20% plan to spend less, and 48% to spend the same.

Holiday spending includes accommodation, where respondents expect to spend an average of over 450 euros, transportation averaging over 300 euros, meals with an average impact of 250 euros. Leisure activities are also included, averaging around 170 euros.

"Half of Portuguese people assume they intend to use the credit card to pay for summer vacation expenses, a lower number compared to 2022 (64.0%)," reads the news article.

It was also possible to conclude that the number of Portuguese planning vacations in Portugal increased, "although the citizens choosing our country for their rest period still represent a majority".

For the destination selection, the factors that respondents consider most are financial cost (49%), type of vacation desired (27%), attractiveness of the destination (17%), and recommendation from family and friends (4%).

"The economic factor is the one that has the most impact when making a decision. 8.0% claim that they do not plan to go on vacation in the hottest months of the year, pointing out the lack of financial conditions (39.0%) and also the fact that prices are higher at this time of the year (13.0%)," it can also be read.

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