Dear Italy: Summer 2020 price report
From ice cream to travel: how much will summer 2023 cost us? The tips of Facile.it to save money
It’s time to vacationbut not for everyone. Adding up those who are still undecided and those who are already sure not to pack their bags, they are almost 9 million the Italians who could stay at home this year. The reason? They cannot afford it financially. Facile.it e Consumerismo No Profit they did some calculations, here’s what came out.
Il 59,5% of those who will not leave for economic reasons, i.e. over 5 million Italians, declared that it was thegeneral increase in the prices of goods lived during the last year. The percentage even rises to 69.4% among 45-54 year olds. The data is not surprising: for more than twelve months, Italians have been struggling with inflation and price increases, from the price of food to mortgages, from motor liability insurance to bills, the list of increased expenditure items is really long. Increases which, at best, have eroded the household saving capacity – often essential to support the costs of a holiday – while in the worst case scenario they have even affected the savings set aside in past years, jeopardizing the possibility of taking a trip.
Personal loans
Litmus test of the economy situation is the request for personal loans. As emerged from the analysis of Facile.it, loan applications are on the rise and the first reason why Italians turn to a credit company is precisely theliquidity requirement, a request often associated with the need to meet current or unexpected expenses. In June 2023, 32% of those who applied for a personal loan did so for this reason and, on average, aimed to obtain 7,631 euros. And also for consumer credit, rates have risen in the last year; for personal loans, according to Facile.it, the average rate (Tan) available online for a 10,000 euro loan to be repaid in 5 years has risen by 22%.
The Italians who, despite everything, have managed to set aside a small budget to be allocated to their holidays, however have had to deal with a second problem: the dear-holidays. Travel-related prices have significantly increased, with the result that, as emerged from the survey, around 3.2 million Italians in the end decided to give up leaving for this very reason. To fall within this case are in particular the young; among respondents aged between 18 and 24 who will not leave for economic reasons, more than 1 out of 2 (53.8%) will stay home for this reason.
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