30.11.2022 | Estonia
Estonians ahead of all other Europeans in paying their bills on time
Text Mark Taylor
This week, Intrum published its European Consumer Payment Report 2022, which highlighted Estonians as the most likely to pay their bills on time and least likely to have borrowed money of all Europeans.
„Estonia came out of the pandemic enjoying a surge in economic growth. Labour shortages and higher wages, combined with Ukraine-related supply pressures, have supercharged inflation, which stood at over 25 per cent in September – the highest in the Eurozone”, said Ilva Valeika, Baltics Managing Director at Intrum.
According to Intrum’s survey, one-third of Estonian respondents said that over half of their salary is left after paying all their household bills, which is the second-highest percentage of all countries surveyed. Estonians are also the most likely to have paid all of their bills on time, with 85 per cent saying they hadn’t made any late payments. They are also the least likely to have borrowed any money (at 85 per cent, 11 points higher than the European average).
Nonetheless, Estonians are highly anxious about the future of their financial health compared to the rest of Europe, with 69 per cent agreeing that concerns about rising bills are having a negative effect on their general well-being (11 points higher than the European average). They are also more concerned than the average about the effect of rising interest rates on their savings, and are more likely to be dissatisfied with the amount they can save. This seems to have a knock-on effect on their willingness to shop sustainably, with only 38 per cent saying that they won’t buy from companies who harm the environment, compared to 54 per cent across Europe.
You can read the full report here
To learn more about this and similar topicsBill Paying
European Consumer Payment Report 2022
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