Behavior in line with the policy of rationalizing expenditures after the “pandemic” for the benefit of domestic tourism
Two bankers: “Borrowing for travel and tourism” declined during the summer
Banks provide loans and financing for travel according to the salary and the customer's need.
Emirates today
Awatef Al-Harmoudi: "The behavior of dealers in requesting financing has changed a lot in the interest of rationalization."
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Two bankers confirmed that there was a noticeable decline in borrowing requests for the purpose of travel and tourism outside the UAE during the summer period, which usually rises every year, before the Corona virus (Covid-19) pandemic.
They explained to "Emirates Today" that it has become clear that there are dealers who prefer to spend the summer in domestic tourism, which in turn provides multiple options, in addition to the elements of security and safety in the country.
They pointed out that the decline is in line with the policy of rationalizing expenditures, which individuals tend to since the spread of the pandemic, which has rearranged priorities, and dispensed with unnecessary things, noting that the behavior of dealers in requesting financing has changed greatly in the interest of rationalization.
spending rationalization
Banking expert Awatef Al-Harmoudi said that the behavior of dealers in requesting financing has changed a lot in the interest of rationalization, and not requesting unnecessary loans, including borrowing for travel purposes, spending summer vacations in preferred destinations for dealers, or even traveling to their home countries, as long as there is no necessary need for that. .
She added, "The world suffers from a lot of tensions, while the UAE enjoys security, safety and tranquility. Therefore, many people prefer to spend internal vacations, and enjoy the multiple and diverse tourist options."
Al-Harmoudi continued: "It is good for individuals to prioritize, while dispensing with luxuries, and this is a benign behavior since the spread of the Corona virus pandemic."
Various options
In turn, the banker, Mustafa Ahmed, said that although banks provide loans and financing for travel, according to the salary and the customer's need, the demand for them is weak, due to the repercussions of global conditions in general, as well as the change in the behavior of individuals in borrowing, so that there are no longer requests for financing except for necessities. such as buying a home or a car, or for priority purposes such as education and investment.
He added that the options for tourism and spending the summer in the Emirates are diverse, pointing out that tourists visit the country from all over the world, so many people spend the summer in domestic tourism, instead of traveling, even to their home countries, as long as there is no necessity or compelling circumstances that require travel.
Ahmed stressed that rationalizing expenditures and “rational borrowing” is one of the most important good lessons that individuals learned during the pandemic, as well as staying away from extravagance and buying unnecessary things, noting that some people in the past used to borrow large sums of money for travel, and then return to being saddled with installments for long periods. .
The options for tourism and spending the summer in the Emirates are diverse, and “rational borrowing” is one of the most important lessons of the “Corona” pandemic.
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