Consumer trends show rising holiday spending and cautious tax management

Recent surveys highlight shifting consumer spending habits regarding travel and taxation. In Switzerland, a Bank Cler study reveals that 44 percent of travelers exceed their self-imposed holiday budgets. The primary driver for these unplanned costs is dining and drinking, cited by 61 percent of those who overspend, followed by shopping and excursions. Younger travelers are more likely to exceed budgets, with 50 percent of those aged 18 to 29 and 52 percent of those aged 40 to 49 doing so, compared to only 36 percent of travelers over 50.

In Germany, data from a Civey survey for WISO Steuer shows that younger generations are managing tax refunds with caution. Approximately 41 percent of 18- to 29-year-olds save their tax refunds, a higher rate than any other age group. Additionally, 47 percent of young taxpayers reported receiving more money back than expected.

Regarding affordable travel, data from the Federal Statistical Office indicates that destinations such as the Czech Republic, Bulgaria, and North Macedonia remain among the most cost-effective options for families and couples in Europe.