Russia’s Vacation Financing: What Survey Data Reveals About Personal Loans and Card Use
A large share of Russians surveyed did not borrow for their summer break. A recent online study by the alternative credit service Moneyman shows that 84.8 percent avoided taking out a loan for vacation expenses. In contrast, 5.8 percent did use a personal loan, while 4.7 percent relied on a credit card to cover holiday costs. Socialbites.ca reports these findings, which also show that 3.5 percent turned to other borrowed funds and 1.2 percent used a mix of financing options. Overall, 15.2 percent of respondents financed their summer vacation with some form of loan.
Among those who selected personal loans, the distribution of loan terms was as follows: 57 percent opted for up to one year, 22 percent for one to two years, 17 percent for two to three years, and 4 percent for more than three years. The data suggests a broad range of preferences in repayment horizons, with many consumers seeking shorter commitments for travel-related expenses while others consider longer terms to spread costs over time.
The company explained that vacations can feel unaffordable and may seem to require extra financing. They are not considered a primary need and might not appear as the most rational use of borrowed money. Yet the past few years brought disruptions such as pandemic restrictions, volatile exchange rates, inflation, and other economic pressures that constrained travel. For many Russians, this meant a decision to relax now rather than wait for more favorable conditions. There is also a notable trend of borrowing before anticipated rate hikes, as consumers prepare for tighter monetary policy.
It is important to note that loan funds do not have to be used exclusively for travel. Some borrowers direct a portion toward other essential needs. In all cases, the key step is to assess personal finances and the ability to meet debt obligations before taking on new borrowing. This precaution helps avoid overextension, especially when rates could rise and repayment terms tighten.
Alexander Pustovit, the CEO of Moneyman, emphasized that responsibility should guide any decision to borrow for a vacation. He noted that borrowers can allocate only a part of the loan toward travel and keep other funds available for everyday needs, emergencies, or savings goals. The emphasis remains on realistic budgeting and a clear plan for repayments, regardless of the purpose behind the loan.
The survey was conducted during the period from August 27 to September 3, 2024. It involved 1,500 adults across Russia who are part of the economically active segment and who were planning summer vacations in the months of June, July, and August. The sample reflects diverse regions and income levels within the country, providing a snapshot of vacation financing behaviors across different demographics.
Analysts observe that expectations around rates and cost of borrowing continue to shape consumer choices. The results highlight how people balance short-term desires with long-term financial goals, particularly in a climate of shifting interest rates and inflation pressures. As travel costs evolve, many households test different financing approaches to manage seasonality in spending and keep vacations within reach while preserving financial stability.
In summary, a minority uses loans to fund vacations in Russia, with the largest group avoiding debt for travel. When loans are chosen, borrowers prefer shorter repayment terms, though a meaningful minority pursues longer horizons. The overarching lesson is prudent planning: honestly appraising one’s finances before borrowing ensures that vacations do not become a source of lasting financial strain. The ongoing dialogue between lenders and borrowers will likely continue to influence how families plan their summers in the years ahead, especially as economic conditions shift and consumer needs adapt to new realities.