It is up 15%, especially in the money that will be used for gifts, travel and raffles, but one in four Spaniards plans to tighten their belts
The countdown to Christmas is on and the vast majority of Spaniards are already preparing for the spending that comes from this holiday season, which this year will be marked by a scenario of skyrocketing inflation and a return to normalcy after two years of pandemic. Each Spaniard will spend an average of 735 euros, 15% more than a year ago, representing an increase of almost 100 euros that doubles the price increase, according to a report by the OCU published this Wednesday.
Spending will increase especially on gifts, for which each person will allocate 393 euros, 45 euros more than in 2021, travel and holidays (101 euros, compared to 80 euros in 2021) and the Christmas lottery (70 euros, 9 euros more than in 2021) , while that of dinners and lunches with friends and colleagues remains high (138 euros).
However, almost one in four Spaniards, 28%, seriously intend to tighten their belts this year and spend less than last year.
It should be noted that, after two difficult years of the pandemic, which shortened the Christmas holidays in many Spanish homes, this year families want to restore the usual Christmas and 83% of those surveyed plan to meet their relatives or friends these days, in the classic meals or festive gatherings. In addition, parties with colleagues are also on the rise (44%) and three out of ten go to a party in a hall (disco, nightclub, etc.). They are far more than those who were able to do it in 2021, at parties still marked by contagions and quarantines.
The Epiphany Parade, the Christmas markets or enjoying the illuminations of the city are other activities that many will participate in this year. And what occupies many people is traveling, going on vacation for a few days.
Another novelty is the foreseeable increase in purchases in physical stores this Christmas, because although 11% confirm that they will buy more ‘online’, 17% declare that they will do so less than in 2021. In fact, 29% of the respondents intends to buy only or mainly in street shops.
Source: La Verdad
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
