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Portuguese savings are still far from pre-pandemic levels. It is the families without children that save the most – O Jornal Económico

Travel is still one of the main reasons the Portuguese came to the rescue. In fact, according to European Consumer Payments Report (ECPR), a study published by Intrum on Monday, about 34% of respondents in Portugal support this fact.

This value is higher than the same period in 2019 when it reached 31%. However, this percentage was already higher, at 42% in 2017 and 2018. Even compared to the European average (41%) or Spain (40%), Portugal is 7 and 6 percentage points apart, respectively, as Intrum explains.

The survey also reveals that women (35%) save more on travel than men (32%), in line with the 65+ (46%) age group who save more than others to travel. The 18-21 and 22-37 age groups account for 38%. The age group from 45 to 54 years is ranked last with 24%.

ECPR shows that it is families without children (37%) that save more for travel than families with children (26%).

According to Luís Salvaterra, General Manager of Intrum Portugal, “The Covid-19 pandemic has had a significant impact across the board, however the hotel and leisure sector (64%) was one of the sectors where profit margins were most affected.”

In the released statement, the official added, “86% of those questioned are concerned that the recession will have a very negative impact on their company. On this World Tourism Day, it is important to stress that knowing how to manage savings and create payment priorities are key measures to avoid financial constraints on budgets.”