Bulgarians Getting More Debt For Vacations

Bulgarians are getting more debt to finance vacations, according to a study from BNP Paribas. In the period from Spring to Autumn 2017, experts saw a 300% increase. This is contrasted with the bank loans for paying bill and taxes, which dropped out of the top 10.

Neli Nedyalkova, a deputy executive in BNP, said that the usual sum loaned for traveling is 2400 leva (1200€). The age of the people getting this loan is usually in the 20-39 demographic. This is the first time vacating went into the top 10 reasons given for getting into debt, coming at number 7. The news was hailed as a milestone in the life of Bulgarians. Allegedly, they have stopped thinking so much about their everyday grind and now have the comfort of taking some time off. Or maybe Bulgarians just stopped thinking so much about their future and started to go into debt for non-crucial reasons.

Other interesting data

Unsurprisingly, people in the two largest cities of Bulgaria, Sofia, and Plovdiv, are the biggest demographic for loans. The three towns with the smallest debtor population are Smolyan, Svishtov, and Kurdzhali. Men in the 20-39 demographic are getting 57% of the loans, most often for buying second-hand cars, while women get into debt for education payments.

Alex Dimchev

Alex Dimchev is a writer, editor, and weapons master for EUscoop.com

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