K&H: how much do Hungarians spend on vacation?

By: Trademagazin Date: 2023. 06. 19. 09:14

Hungarians planning a vacation this year spend an average of HUF 296,000 on vacation, compared to HUF 247,000 a year earlier, according to K&H’s first quarter survey, which examined the travel plans of 30-59-year-olds. Almost 40 percent of the respondents prepare for their vacation with a budget of HUF 100,000-300,000. The proportion of those planning a longer domestic or foreign trip of at least five days decreased significantly: the former fell from 42 to 24 percent last year, and the latter fell from 26 percent to 16 percent.

The uncertainty that defines everyday life and the rise in prices restrain Hungarians’ desire to travel. 52 percent of 30-59-year-olds are planning some sort of vacation at home or abroad, according to the K&H survey conducted in the first quarter, which also shows how much money the respondents spend on the trip.

24 percent of the respondents are planning a longer domestic holiday of at least five days, and 16 percent are planning a holiday abroad of a similar length. This represents a decrease compared to the year before, in 2022 the ratio was 42 and 26 percent, and in 2021 it was 36 and 16 percent. Two years ago, the restraint seen in foreign travel was due to the restrictions due to the epidemic, while this year it can be explained more by the high prices.

Hungarians preparing for vacation would spend an average of HUF 296,000 on summer vacations this year, after last year’s HUF 247,000. The significant increase of 20 percent may be due to the significant increase in prices over the past year, including many products that can be important for travel: such as the price of fuel.

According to the data, almost four out of ten people would spend 100-300 thousand forints on vacation this summer, but according to the research, the variance in holiday budgets is very significant: 8 percent of them allocate 50 thousand forints less for this purpose, 11 percent 50-99 thousand forints, 12 percent They would spend HUF 100-149 thousand, and 11 percent of them plan to spend HUF 150-199 thousand. 16 percent of those surveyed are preparing for their trip with HUF 200-299 thousand, and 14 percent with HUF 300-399 thousand, and 5 percent of those who would spend more than HUF 1 million on vacation this year.