Summer vacation spending in Scandinavia

Danes, Finns, Norwegians and Swedes use the same strategy for their summer vacation budgets. They intend to spend less this year than last year. This is the result of a new survey of 4,079 respondents conducted for Nordea by TNS Gallup.

For Finns the downsizing is a habit since this is the third year running that they spend less on summer vacations. The Swedes intend to spend less for the second year running. The Danes and Norwegians have shown a more diverse spending pattern over the past few years.

The consumer confidence index from the four countries shows a herd-like pattern of 25 million consumers moving up and down at a similar pace. But the overall growth picture in terms of real GNP is very different in the four countries, with Norway at the top and Denmark at the bottom.

“We must conclude that the unresolved economic difficulties in the Euro zone have stronger and longer psychological effects on consumers’ collective behavior than we would normally expect”, says Ann Lehmann Erichsen, Private Economist, Denmark.

Summer vacation spending in 2012 – average figures per household:

• Denmark: EUR 1667
• Finland: EUR 1406
• Norway: EUR 2844
• Sweden: EUR 1683

Do you want to know more about the summer vacation spending survey in each country?

Contact information:

Denmark: Ann Lehmann Erichsen/ ann.lehmann.erichsen@nordea.dk

Finland: Anu Numminen/ anu.Numminen@nordea.com

Norway: Christine Warloe/ christine.Warloe@nordea.no

Sweden: Ingela Gabrielsson/ ingela.gabrielsson@nordea.se