The Retailer Winter edition_2020

Source: Intrum, “European Consumer Payment Report 2019,” Credit Freedom measures the extent to which consumers are borrowing money to pay bills, their level of borrowing in relation to monthly income, and the gross debt-to-income ratio of households. This chart shows that consumers in relatively wealthy countries are burdening themselves with an increasing amount of debt. Denmark, for example, has the highest household debt-to-income ratio in Europe, one of the reasons it ranks in 24th place on the Credit freedom pillar. Hungary, in contrast, ranks first on the Credit freedom pillar, indicating low dependency on credit. The country’s household debt-to-income ratio is currently the lowest across Europe, according to Eurostat data. Over three-quarters (76 percent) have not borrowed money, apart from a mortgage, or reached their credit card limit in order to pay bills, over the past six months."

MARTIN JÄGERSTAD // martin.jagerstad@trustly.com

the retailer | winter 2020 | 49