Trimming Xmas: Greek Holiday Spending Shrinks a Little Bit More

Deloitte’s 31st annual holiday survey of consumer spending intentions and trends found that the average European will spend 517 euros on this Christmas, noting a drop by 1 percent to last year. In Greece, however, the planned Christmas expenditure was at 439 euros and this put the country among the ones with the least Christmas cheer. The spirit of Christmas was only worse in Russia (348 euros) and Poland 328 euros).

In 2015, an already dismal spirit of Christmas saw people spending 457 euros per household in Christmas purchases that included everything from decorations to gifts. This year, consumption will be 4.2 percent less.

Greek people’s preferred gift of choice in 2016 is food and drink, whereas clothing and footwear comes second and books are third. While most Europeans prefer cash gifts for practical reasons, for Greeks these are 6th in preference even though last year, Greeks, too preferred cash gifts.

Deloitte’s research involved interviews with 6,580 people in nine countries (Belgium, Germany, Denmark, Greece, Italy, Portugal, Russia and Spain) aged between 18 and 75 years.