Digital investment platform Robo.cash reveals that she conducted a survey to examine the most common spending habits or patterns of consumers.
According to an update from Robo.cash, the “overwhelming” majority of European investors plan to include summer vacation in their budget. Robo.cash points out that 72.2% of survey respondents said they plan to spend up to $ 5,000 and nearly 7% are willing to spend larger amounts, the survey found.
The number of respondents who chose to invest as their primary “expense” has now “doubled since 2019, leaving education and entertainment behind,” Robo.cash noted in its latest update.
The P2P lender writes in a blog post:
“Of those who are planning a summer vacation, 43% plan to spend or have already spent between $ 1,000 and $ 5,000. 5% are willing to allocate more than $ 5,000 for the holidays, and only 2% are willing to double that amount. An additional 21% have no plans for summer vacation.
Robo.cash added that travel costs are the “top three expenses among investors, after housing (58.2%) and food (24.4%).”
Robo.cash analysts noted:
“There is no doubt that concerns about the global crisis (COVID-19) are preventing people from traveling. Yet the fact that the majority of respondents are planning to invest or have already invested in summer vacation (79%) shows that people do not want to miss the opportunity to take time off, despite the unpredictability of the vacation. pandemic ”.
Notably, another “expense” item – investment – managed to double compared to 2019, dropping from 6th to 4th place in the list of overheads, according to the survey results.
Analysts further noted:
“The growth in demand for investment and savings is reasonable given the current uncertainty. As the latest Eurostat report indicates, the euro area household savings rate increased by 11% in the first quarter of 2021 compared to the end of 2020. There is no doubt that maintaining stable reserves inspires confidence and makes it more resistant to future economic downturns.
The Robo.cash platform reports that it conducted the survey in June 2021, with responses obtained from 400 P2P investors residing in various European countries.