Requests for credit to go on vacation made by Portuguese families to Younited reached 38 million euros in the first half of this year. The credit market place reveals that, compared to the same period in 2020, the amount of loans has increased by 245%, in line with the recovery of post-pandemic tourism.
“The year 2022 marks an important turning point in the life of the Portuguese. It is the year of the return to “normal”, freedoms. People want to go out, explore what Portugal, Europe and the rest of the world have to make an offer, families want to leave the house,” said Annie Criscenti, vice-CEO of Younited Portugal, in a press release.
The company notes that, “unfortunately, as we prepared for everything to return to a pre-pandemic scenario, a war broke out in Europe, which from its inception has shown to influence the budget of families, all over the world. the world”.
Despite this, the financial sector continues to grow in the country. The number of credits requested in the “vacation” category increased by 32% between 2019 and 2021.
More broadly, all requests have increased: in the first six months of 2022, around 38 million euros were requested from Younited, i.e. 18 million more compared to the same period in 2019.
The consumer profile has also undergone changes. In 2019, the average age of consumers of “holiday” credit was 39. In 2020, the average age will decrease, to 38 years. In 2021, on average, consumers were 45 years old, one less than the average age of customers in 2022.
On the other hand, the average payment period has decreased: if in 2019, the Portuguese chose an average payment period of 59 months, in 2020 this was reduced to an average period of 3 months. In 2021 and 2022, the average contractual settlement period remained at 55 months.