Fewer than one in four Luxembourgers said that they only hardly ever use cash, a little more than the European average of 21%, according to the latest ING International Study (IIS)
Twenty-four percent of the Luxembourg residents questioned stated that they rarely use cash, and 28% went so far as to say they were prepared to live entirely cash-free!
A number of differences were noted between residents of Luxembourg nationality and those of other nationalities in terms of possessing cash.Thus, 18% of Luxembourgers stated that they generally had no cash, compared with 30% for other residents who are therefore higher in number. Similarly, 22% of Luxembourgers said that they could go without cash entirely if they had the choice, compared with 35% of non-nationals.
Moreover, 65% of those who reduced their use of cash over the past 12 months would like to continue doing so. And 14% of those that have not yet reduced their use of cash would like to. For the coming year, 79% of residents (all nationalities combined) stated they would like to reduce their use of cash in order to favour other payment means.