- Austrians’ spending abroad will surpass domestic expenditures
- Holiday euro index by UniCredit Bank Austria gauges purchasing power abroad
- Bulgaria offers the most value for Austrians’ money
- Switzerland is the priciest destination
Austrians planning their summer vacations will find their expenditures abroad more favourable than at home. According to UniCredit Bank Austria’s annual “holiday euro” index, which assesses the purchasing power of Austrians’ money in various global locations, international travel is highly attractive this year.
In terms of value, Bulgaria stands out. For every 100 euros spent, visitors feel as though they are spending 181 euros, an increase of 1 euro from last year. Romania and Poland also present excellent value, with 100 euros translating to 180 euros in Romania and 166 euros in Poland. Popular Mediterranean destinations such as Greece, Spain, Portugal, Turkey, and Croatia offer about 30% more value than spending in Austria.
Assessing Costs in Different Destinations
On the flip side, Switzerland holds its ground as the most expensive holiday choice. Despite having lower inflation compared to Austria, the rising Swiss franc against the euro has diminished the holiday euro’s value by 4%, making it worth roughly two-thirds of its equivalent in Austria.
The rest of Europe presents a varied landscape for travellers. For instance, in Germany, which will be hosting the European Football Championship from June 14 to July 14, the purchasing power shifts slightly, with 100 euros in Austria equating to 108 euros in Germany. Meanwhile, inflation-hit countries like Turkey and Hungary have seen a notable decline in the value of the euro, further influencing travel plans.
This summer, Austrians are likely to find more value for their money by seeking international destinations, particularly in Eastern Europe and the Mediterranean. Whether basking on the sunny coasts of Bulgaria or exploring architectural marvels in Romania, the holiday euro index guides Austrians to make the most of their hard-earned money.
