Half of Austrians Spend Vacation Money on Travel

Accordingly, the use of holiday pay varies significantly depending on the age group: younger people tend to save the money. Older people and those with higher incomes primarily use it for travel.

Inflation Influences Holiday Pay Usage

Inflation in recent years is likely to play a role as well: around 60 percent of respondents stated that they use it to cushion financial burdens. Furthermore, 17 percent said they used the holiday pay to reduce debts and settle outstanding bills. Additionally, 40 percent saw the extra money as a help to "make ends meet." The survey included 1,000 people, and according to Deniz Bank, it is representative of employees aged between 16 and 75 years.

(APA/red)

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