Swedes set to hike holiday spend

Swedes plan to increase the the money they lavish on annual holidays, as they did in 2009, a new report from Scandinavian bank Nordea shows.

The annual report indicates that Stockholmers spend the most money on their hols, but the greatest increase for 2010 is set to come from those living in western Sweden.

Nordea predicts that Swedes will spend an average of 16,000 kronor ($2,000), an increase of 14 percent in comparison with 14,000 kronor in 2009.

The report also indicates that 83 percent of Swedes plan to spend their vacations at home. Families with teenagers will have however consider other destinations, primarily within Europe.

Stockholmers plan to spend an average an average of 18,000 kronor on their holidays this year, while those living in western Sweden stand for the largest percentage increase, up 33 percent on 2009.

Only three percent of Swedes have plans to buy a holiday home over the coming two years, with 16 percent already owning one.

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