Ukrainian refugees have already settled down abroad: they have found jobs and have a significant impact on the economy of some countries. Find out how Ukrainians manage their money abroad

An insurance policy is a guarantee of your safety and peaceful stay outside Ukraine

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Since the outbreak of the war, which has lasted for more than two years, millions of Ukrainians have been forced to leave their homes and seek refuge abroad. European countries and other states opened their doors to refugees, providing them not only with temporary housing but also with the opportunity to work. Over time, Ukrainians adapted to the new conditions and began to actively influence the economies of their host countries. The Finance.ua publication, citing the National Bank of Ukraine, revealed how much money Ukrainians spent abroad this year and what they spent it on most often.

Official data from the National Bank of Ukraine show that in the first quarter of 2024, Ukrainians spent about UAH 7 billion abroad. This is a 3.5-fold increase compared to the same period in 2021. It is important to note that banks cannot accurately determine which of these expenditures were made by IDPs and which by Ukrainians who lived in the European Union before February 2022.

Since the beginning of 2024, Ukrainian citizens have spent the most money in countries such as Poland, the Czech Republic and Germany. 

What do Ukrainians spend abroad?

Poland is home to almost one million Ukrainian refugees, the second largest number among all European countries after Germany. Consequently, the expenses of these refugees are also significant. In the first quarter of this year alone, their expenditures amounted to about PLN 2 billion.

Most of these funds are spent on food: about 34% of the IDPs' monthly income is spent on food. Ukrainians also spend a lot on catering services (about 21%), medicines (19%), clothing and footwear (10%), fuel (8%), and transport services (4%).

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The Czech Republic ranks third in Europe in terms of the number of Ukrainian refugees, with about 400,000 IDPs registered here by the beginning of 2024.

According to statistics, approximately €650 per month is enough for one person to live comfortably in this country. Of this amount, 61% is spent on housing, 21% on food, 11% on clothing and footwear, and 5% on transport.

The costs of medical services in the Czech Republic deserve special attention. The country provides refugees with the right to free medical treatment only for the first five months after crossing the border. After this period, medical services become paid: one visit to a specialist costs 20-25 euros, which is about 4% of the average monthly income.

To avoid unplanned medical expenses, we recommend taking out health insurance that covers various healthcare needs. This insurance will not only help you save money, but will also be a real help in case of illness or injury. You can apply for such a policy here.

Germany is also considered one of the most comfortable EU countries for Ukrainian refugees to live in. According to official figures, about 1.3 million Ukrainians live in the country. The country offers a fairly good standard of living and large social benefits, as well as the possibility of getting a job with a high salary.

According to the EWL Migration Platform, most internally displaced persons earn a good income in Germany and can save up to 500 euros per month. This is quite a substantial amount, as in neighbouring Poland, the average monthly savings rate is only 450-500 zlotys.

In Germany, Ukrainians most often spend money on rent, food, medical services, clothing and footwear, education fees, transport, and basic necessities.

However, most of the money is spent on housing (45%) and food (35%), as well as educational services. 

We remind you! The National Bank of Ukraine will change the rules of P2P transfers. So far, it is planned to limit citizens to 30 transactions per month. Read here to find out what led to the NBU's decision and what you should prepare for.

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