Dutch spend holiday pay on holidays again

Many Netherlands residents will receive their holiday pay next week. And the majority of them will actually spend it, instead of saving it or using it to pay debts, according to an ING Economic Bureau survey, the Telegraaf reports. Two thirds of the thousands of respondents stated that they will definitely spend their holiday pay. Only 35 percent of Dutch are using that money to cover holes in their budgets, compared to 40 percent three years ago. ING attributes the increasing willingness to spend holiday pay to the recovering economy and increasing confidence among consumers.