2011 Austrian Release. The World Savings Day was established on October 31st 1924 during the 1st International Savings Bank Congress (World Society of Savings Banks) in Milano, Italy. The Italian Professor Filippo Ravizza declared this day the "International Saving Day" on the last day of the congress. In the resolutions of the Thrift Congress it was decided that ‘World Thrift Day’ should be a day devoted to the promotion of savings all over the World. In their efforts to promote thrift the savings banks also worked with the support of the schools, the clergy, as well as cultural, sports, professional, and women’s associations.
Representatives of 29 countries wanted to bring to mind the thought of saving to the worldwide public and its relevance to the economy and the individual. The World Savings Day is usually held on October 31st except in countries where this day is a public holiday, since the idea is for the banks to be open, so that the people are able to transfer their savings into their account.
After the Second World War, World Thrift Day continued and reached the peak of its popularity in the years between 1955 and 1970. It practically became a veritable tradition in certain countries. In Austria, for instance, the official mascot of saving, the so-called 'Sparefroh' (literally: ‘Happy Saver’, or rather "save happily!") reached a higher degree of brand awareness than the republic’s President.
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