Cost-consciousness and tech-openness – this is how Hungarians travel abroad this year, according to a Visa survey
36% of Hungarians plan to take a vacation abroad during their upcoming holidays, and most of them will travel to Croatia this year. According to Visa’s 2019 study on travel habits in Central and Eastern European countries, Hungarians are trying to keep their spending under control when traveling abroad, while using digital devices not only to pay but also to track their spending.
Technology has now become a key factor in managing our finances when traveling: nearly a third of Hungarians traveling abroad plan to pay with their mobile or smart device. According to the study and MBH Bank’s experience, consumers expect their banks to provide convenience services that enhance the travel experience and are willing to pay for them.
The latest Visa study, which examined travel habits in seven Central and Eastern European countries, including Hungary, found characteristics specific to Hungarian travelers in addition to general travel habits. It turned out that more than a third (39%) of Hungarians planning a trip abroad travel the world as explorers and seek unique experiences, even stepping out of their comfort zone. 22% take on the role of a tour operator and plan everything in detail to make the trip run more smoothly. The same number excel at finding the best deals and are careful to stay within the planned budget. At the same time, more than a quarter of travelers admit that although they like good deals, they would not compromise on comfort, safety or food. Interestingly, 12% of travelers also put special emphasis on producing content for social media pages by capturing the best moments and the most beautiful places.
What and how much do Hungarians spend on travel?
Hungarian travelers spend an average of 300,000 forints per person on a trip abroad, with most spending between 80,000 and 400,000 forints, slightly below the regional average. 57% plan in advance how much they want to spend at a given destination and keep their spending under control. Every second Hungarian tourist (55%) tracks their expenses via a bank mobile app.
According to a representative market research by MBH Bank, 76% of vacationers consciously prepare for the expenses associated with vacation and cover the expenses from their savings, and more people also take advantage of the opportunities offered by the SZÉP Card – nearly a quarter of respondents use this to supplement or finance their vacation costs from such a benefit. There is also a significant number (34%) of those who can finance their trip from their current monthly income, and to a small extent, there are also travelers who use some kind of loan for this purpose (8.5%).
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