In Brno, people anticipate that 2024 will prove economically challenging for them. As many as 60 percent put off significant investments such as buying a car, real estate, or expensive household equipment until better times. A quarter of the citizens are not counting on a summer vacation, and those who plan to go are looking to book their stay as early as January, fearing increasing prices.
The Czechs aim to save even on significant investments, such as buying a car, according to a survey by the agency STEM/MARK for Home Credit. “People are planning their purchases far more and are dealing with how they will finance them. They are not only thinking about what they will spend their financial resources on but also considering the revenue side. The unfavorable economic situation motivates them to manage their family budget more actively,” Miroslav Zborovský, the ombudsman of Home Credit ČR and SR clients, told Novinky.
According to experts, he reminded that apartment prices have hit rock bottom, the central bank has lowered the repo rate, the Czech Republic reached the highest inflation in the European Union in the penultimate week of last year, and some retail chains started to lower prices even before Christmas. According to experts, people have learned to respond to the current economic situation and adapt their expenses accordingly, and if necessary, they look for additional sources of income.
Two-thirds of those surveyed expect higher expenses this year, but higher income is expected by only the remaining third. Some population plans to address the not-too-cheerful financial situation by asking their employer for a pay raise. Twenty-eight percent of those surveyed are planning to do so. Of that, a quarter will ask for a minimum wage increase of up to ten percent, and another quarter will strive for an addition of up to 20 percent.
A summer vacation is not to be missed by 37 percent of those surveyed. The catch, however, is that about 40 percent of them want to travel cheaper by not using any travel agency services. Another 34 percent are on the fence, i.e., considering whether to go abroad with a travel agency or choose to go cheaper on their own this time.