Vacation at all costs. And so this year Italians have asked for over 250 million euros to pay for their vacations and not give up at least a few days out of town. But there are still many, 3.7 million citizens who are unable to leave and 56% because they cannot afford it financially.
More and more Italians are choosing to ask for a loan from credit companies. In the first half of the year, according to a survey by Facile.it and Prestiti.it, requests for sums to pay for holidays (for Easter and summer) increased by 2% compared to 2023, when there had already been a +3% increase on the previous year. The need is to leave without weighing too much on the family budget, under stress from inflation and the cost of living. So far this year, over 250 million euros have been disbursed in personal loans to cover expenses related to travel and holidays, up 12% on an annual basis. According to the analysis, those who asked for financing for this reason requested an average of 5,425 euros, to be repaid in just over four years (about 50 installments). The 2024 holidays will be paid for at the end of 2028. Young people are the ones who are resorting to financing for holidays. One in three requests comes from someone under 30 and the average age is 38, compared to 44 years of age for requests for personal loans for other reasons.
Vacations are increasingly a luxury. There are 6.5 million Italians who can’t pack their bags this summer and for 3.7 million of them the reasons are purely economic, especially for young people. The budget issue affects especially those between 25 and 34 and over 65 (here the percentage reaches 64%). There is also a territorial differentiation. In the South and on the Islands the economic reason for missed vacations reaches 66% of cases. For almost half of the sample of the survey Facile.it, mUp Research and Bilendi (47%) it is the increase in the general cost of living that forces them to give up summer. Among the over 65s the percentage reaches as high as 71%. But the increase in prices directly of flights, restaurants, hotels also plays its part. Vacations in themselves are too expensive especially for under 25s, who cannot afford flights, ferries and summer stays in 52% of cases.
And what about the other 2.8 million Italians who won’t leave even though they could afford it? Lack of vacation days in first place (21%), followed by the need to take care of a family member (10.5%) or an animal (13%).
