Summer holiday budgets trimmed

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Norwegians aren’t spending quite as much on their summer holidays this year. A recent survey shows a 6 percent decline on average as compared to last year.

The survey, conducted by research firm Respons Analyse for Sparebank1, shows that Norwegians on average planned to spend NOK 16,713 (nearly USD 2,000). That’s down from NOK 17,866 last year.

“One thing is that more people are more careful with their spending this year, after we’ve had some interest rate increases,” Magne Gundersen, a consumer economist at Sparebank1, told news bureau NTB. Last year’s warm summer also prompted many Norwegians to plan holidays closer to home, instead of going abroad.

This year’s chilly summer so far has sent many rushing to book last-minute trips to warmer climes, so actual summer spending may end up higher than initially predicted. Norway’s biggest bank, DNB, also has reported lower spending so far, however.

newsinenglish.no staff

 

conducted by research firm Ipsos for Norway’s biggest bank DNB, show