K&H: almost 400 thousand forints are already spent on vacation

The majority are very likely or definitely going on vacation this year from the middle-aged camp: more than 60 percent of 30-59 year-olds plan to do so – this is what the K&H Sure Future survey found in the first quarter of this year. The amount that can be spent on vacation is much more than a year earlier.

Double-digit growth

According to a representative survey of middle-aged people, vacationers would spend an average of 397,000 forints on their trip this year. This amount represents a very significant increase of more than 21 percent compared to the average a year earlier, and represents a 34 percent higher value than the 296 thousand budget measured at the beginning of 2023.

“The increase is due to the fact that – in addition to the increase in costs – the average salary and income of middle-aged people have also increased in the recent period. According to our research, in the first quarter of this year, the average monthly household income of the respondents was close to 600 thousand forints, or 592 thousand forints to be precise, which is a record in the decade-long history of the survey and also corresponds to a 19 percent increase in annual comparison”

– commented on the results by Pálma Székely, head of K&H’s sales and life insurance business. The expert added that when traveling abroad, having travel insurance remains extremely important, as it provides coverage for expenses that can be several times the total travel cost in the event of an unforeseen problem, accident or illness.