Between the second half of June and the first of July, around 8 million employed workers in Italy will receive the fourteenth salary, with an average amount of 1,500 euros and a total amount close to 12 billion euros. A substantial liquidity injection, with over half of the amount allocated to consumption. In addition to this, there will be a one-off payment for approximately 4 million tertiary, distribution, and service employees, totaling almost 600 million euros to be paid in July.
Based on a survey conducted by Ipsos, it is estimated that 95% of those who receive the fourteenth salary this year have already planned how to use it. One in four people plan to spend it all immediately upon receiving it. Approximately 2.1 billion euros of the fourteenth salary is expected to be allocated to investments and savings, with the remaining amount divided among obligatory expenses.
Obligatory expenses include outstanding accounts, healthcare costs, and other family reasons. The remaining 6.4 billion euros will be used by Italians to purchase goods and services for themselves and their families. Travel, home renovations, clothing, and accessories are among the popular choices for spending the extra income.
The fourteenth salary could provide a significant boost to household spending and support the renewal of national contracts. Confesercenti suggests using fiscal leverage to facilitate contract renewals and increase the purchasing power and consumption of Italians. This injection of liquidity is a result of increased employment and the renewal process of national contracts.