In 2020, household consumption expenditure in the EU decreased by an unprecedented 8% compared with 2019, the largest annual reduction recorded since the time series started and it is due to the effects of the COVID-19 pandemic, the European Commission Statistics Office (Eurostat) reported on Monday.Social distancing measures, government restrictions imposed on the movement of people and non-essential economic activities severely affected household consumption expenditure.All the EU Member States recorded a decrease in household consumption expenditure. Data for Romania, Greece, Germany, Belgium, France, Croatia, Cyprus, Hungary, the Netherlands and Portugal are provisional, Eurostat said.When comparing 2019 with 2020, the largest decrease was recorded in Malta (around -22%), followed by Croatia, Spain and Greece (all around -16%). On the other hand, the smallest decreases were recorded in Slovakia and Denmark (both around -2%), followed by Lithuania and Poland (both around -3%), Sweden (minus 3.8%), and Romania (minus 4.3%).According to Eurostat, the largest decreases in household consumption expenditure were observed for 'Restaurants and hotels' (-38% compared with 2019), 'Clothing and footwear,' 'Transport' and 'Recreation and culture' (all -17%). On the other hand, the largest increases were recorded for 'Food and non-alcoholic beverages' (+3%) and 'Communications' (+2%).In 2020, over a quarter (26%) of household consumption expenditure was devoted to 'Housing, water, electricity, gas and other fuels,' making it the EU's largest household expenditure item, ahead of 'Food and non-alcoholic beverages' (15%) and 'Transport' (12%).
On October 30, 2025, Envisia will host the 3rd edition of the Future of Boards Gala. The event brings together board members, executives, and governance ecosystem partners for an evening dedicated to recognizing responsible leadership, corporate governance, and high-performing boards. The six award categories celebrate individuals and boards who, through courageous decisions and integrity, create […]
The European real estate debt market is showing clear signs of recovery, supported by stabilized interest rates, competitive lending, and renewed investor confidence. According to AEW’s latest research, the credit financing gap across Europe is narrowing, with improved lending conditions helping to ease refinancing pressures that have weighed on the sector in recent years. Between […]
French retail chain Carrefour may want to sell its stores in Romania and exit the market, according to the French publication L’Informe. Moreover, it would also like to get rid of its operations in Poland and Argentina, according to the same source. So far, Carrefour has reportedly only analyzed a possible exit from the local […]
Romanians are not looking forward to Black Friday with more enthusiasm than last year, according to a recent survey. The main reasons are economic instability and the decline in purchasing power. Around 22% of Romanians say they will not buy anything on Black Friday 2025, and only 15% of Romanians plan to spend more compared […]
Cristina Ghițulică, a faculty member at the Faculty of Chemical Engineering and Biotechnologies (Politehnica Bucharest), was elected as the first woman president of the European Association for Quality Assurance in Higher Education, or ENQA. Ghițulică is the director general of the Romanian Agency for Quality Assurance in Higher Education. She was elected to head ENQA […]
The Bucharest National Opera and the Kinetobebe Association announced “The Dance of Velvet Steps,” a premiere performance for the audience with special needs, on Sunday, November 16. The show consists of a ballet performance adapted and made accessible for children and adults with disabilities. The performance is primarily addressed to children and adults with special […]
