Summer 2020: holidays and canceled programs - the luckiest Italians have saved an average of € 1,727, but there are also those who have lost more than € 650
Milan- Several citizens, not only Italians, have been forced to change their summer vacation plans this year due to the health emergency. According to the latest research by N26, almost a third of people globally said they had been forced to proceed with the cancellation of their travel bookings (30%) and three out of four of them said they were worried about the restart of international travels (73%).
The Covid-19 emergency has therefore forced many people to cancel or postpone their long-planned trips, often having to give up the money paid as a deposit, or for the purchase of travel tickets. In these cases, in fact, the tickets are reimbursed only for reasons of "force majeure", but if the traveler decides to cancel out of personal fear, while the service remains available, there is no right to any refund. So there are those who have had their money re-credited and those who have suffered losses due to cancellations. According to the data that emerged from the research, the money saved by Italians for missed summer departures and canceled plans are an average of € 1,727 (€ 1,942 at European level), which about 57% of respondents have already decided to use again for future trips. The less fortunate, who were not entitled to any refunds, lost about € 651 due to cancellations (€ 673 in Europe).
But the current health crisis has also influenced the choice of favorite summer vacation destinations, with nearly half of all respondents planning to make a major trip abroad this year (43%), but only in the 20% of cases kept their plans unchanged. The percentage of those who opted for a local holiday is far higher: in fact, 58% of the interviewees instead decided to spend the holidays in their own country due to the fear of incurring greater risks of contagion in foreign countries (46%). In these cases, 31% of Italians preferred sea destinations, 23% opted for the mountains, 21% for Southern Italy and 15% decided to visit a city or Central Italy.
However, the health and economic crisis forced many of the respondents to stay at home, thus giving up any travel for economic reasons and assuming a winter trip (12%) or a big trip to be postponed to 2021 (20%). In some cases, the crisis has hit so hard that it has forced some people to ask for financial support, a measure that 23% of respondents have resorted to globally. Of these, 28% turned to their parents; the same percentage for those who took advantage of the measures implemented by the various governments. While 20% relied on a close friend. If in some countries the main reason is to be attributed to the loss of the job, in Italy (where the government has blocked layoffs until November 16, 2020), help is asked mainly due to wage cuts (20%).
About N26
N26 AG is Europe’s leading digital bank with a full German banking licence. Built on the latest technology, N26’s mobile banking experience makes managing money easier, more secure and customer friendly. To date, it has welcomed more than 8 million customers in 24 markets, and processes over 100bn EUR in transactions a year. N26 is headquartered in Berlin with offices in multiple cities across Europe, including Vienna and Barcelona, and a 1,500-strong team of more than 80 nationalities. Founded by Valentin Stalf and Maximilian Tayenthal in 2013, N26 has raised close to US$ 1.8 billion from some of the world’s most renowned investors.
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