European Household Expenditure on Foreign Consumption by Country

In 2023, Germany led European household expenditure on foreign consumption with 61.29 billion Euros, a slight decrease of 0.21%. Italy was second, despite a 3.12% decline, contributing 17.48 billion Euros. Belgium maintained a 0.7% growth, reaching 12.9 billion Euros. Notably, Latvia showed a robust 8.59% increase, while Lithuania experienced a significant decline of 5.23%. Slovenia also grew by 1.07%. Meanwhile, Estonia witnessed the largest drop at 4.5%. The five-year CAGR varies across countries, indicating diverse long-term growth trajectories.

Future trends to watch:

• Potential resurgence in foreign consumption as European economies stabilize post-pandemic.
• Increasing influence of digital channels on cross-border expenditure.
• Frugal spending patterns in response to economic challenges.