Short-term personal loan could rise to $3.6t by 2026: Euromonitor

The report said global consumers now prioritise short-term fulfilment.

The global outstanding balance of short-term personal loans or lines of credit is on an upward trend, forecasted to reach approximately $3.6t by 2026, according to a Euromonitor report.

The report said global consumers now prioritise short-term fulfilment as long-term milestones like homeownership or retirement feel less attainable

In 2023, the outstanding balance stood at approximately $3.4t. This figure held steady through 2024.

The balance is projected to climb to approximately $3.5t in 2025, culminating in the $3.6t forecast for 2026.

Across the entire 2023 to 2026 period, the outstanding balance is projected to consistently account for approximately 20% of total consumer credit.