Off to the East!

Here you get the most for your vacation money

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11.06.2024 10:58

In times of inflation, some people have to save money on their vacations, so it's worth taking a look at the vacation euro statistics. You get the most for your travel budget in Eastern Europe ...

On average, Austrians will get a fifth (20 percent) more for their money abroad this year than at home. The "vacation euro" calculated annually by UniCredit Bank Austria is worth the most in Bulgaria, followed by Romania and Poland. In Greece, Croatia, Turkey, Spain and Portugal, you also get around 30 percent more for your money than in Austria. Switzerland, on the other hand, remains the most expensive destination for holidaymakers.

European destinations have become more expensive
In general, European destinations have become slightly more expensive this year compared to the previous year and in relation to Austria - despite high domestic inflation, said Stefan Bruckbauer, Chief Economist at UniCredit Bank Austria on Tuesday, according to a press release. "In Turkey and Hungary, where the vacation euro was worth the most in the past, you get significantly less this year than last year due to high inflation," said Bruckbauer. Nevertheless, Hungary remains one of the countries where purchasing power remains particularly high for Austrians.

In Germany, where the European Football Championship is taking place this year in June and July, the difference in purchasing power is rather small, but you still get a little more for your money than at home. 100 euros are worth 108 euros in Germany.

Switzerland remains the most expensive vacation destination
Overseas destinations, on the other hand, have become cheaper, on average by 11 percent. The exchange rate trend played an important role here. "Based on vacation behavior, there was another significant increase in the vacation euro in overseas destinations, as in 2023. The stronger euro was solely responsible for this, with price increases in many of these countries exceeding those in Austria," said Bruckbauer.

Switzerland, however, remained the most expensive vacation destination for Austrians. Although inflation in Switzerland was significantly lower than in Austria, a rise in the value of the Swiss franc against the euro pushed the value of the vacation euro down by 4 percent and is only worth around two thirds of its value in Austria.

This article has been automatically translated,
read the original article here.

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