Germans plan holidays but tighten budgets, survey shows

Most Germans are unwilling to forgo holidays despite higher prices, but many say they are tightening their travel budgets this year, according to a YouGov survey commissioned by Postbank.

Two-thirds of the 2,110 respondents, or 66.3%, said they plan to travel privately in 2026, with most intending to take more than one trip.

However, around two in three of those with travel plans said they are paying closer attention to costs than usual (50.3%) or have already significantly scaled back their holiday plans (10.6%).

Rising living costs were cited most frequently as the reason for cutting back. Although the surge in inflation that followed Russia's invasion of Ukraine has eased, consumer prices rose 2.1% in January 2026 compared with a year earlier, according to preliminary data from the Federal Statistical Office.

Food prices increased more sharply than in December, while services – including package holidays – have recorded above-average price rises for months.

Inflation may have calmed, but the price increases of recent years are still being felt, said Ulrich Stephan, chief investment strategist for private and corporate clients at Deutsche Bank, which owns Postbank.

Many consumers are responding to persistently high living costs with restraint in their spending and on holidays, he added, opting for fewer trips, cheaper destinations and stricter budgets.

Financing holidays with borrowed money remains rare. Only 4% of those planning to travel said they would mainly use overdraft facilities or instalment loans. Those taking a single trip mostly rely on savings (62.2%), while respondents planning multiple holidays primarily use current income (57.9%).