Monthly Wrap: Which countries spend the most at Christmas?

Currencies Direct December 11th 2019 - 2 minute read

Christmas may well be one of the most wonderful times of the year, but it can also be the most costly.

Presents, food, drink, clothing, nights out, nights in, decorations – it all adds up.

How much cash you splash can vary depending on where you live, so we’ve taken a quick look at which European countries splurge and which countries scrooge at Christmas…
Average Christmas expenditure

UK – €639 / £537.86

Spain – €554 / £466.31

Italy – €549 / £462.10

Germany – €488 / £410.76

Portugal – €387 / £325.74

Russia – €367 / £308.91

Poland – €352 / £296.28

Netherlands – €341 / £287.02
Of the eight countries surveyed by statistics company Statista, the UK came in as the biggest spender – but how does this compare with the European average?

The Statista European average for Christmas spending totalled €460 / £387.19, meaning the UK spends €179 / £150.67 more than average. That’s a lot of extra pigs in blankets!

In fact, of the countries surveyed, the UK, Spain, Italy and Germany all spend more than the European average, while Portugal, Russia, Poland and the Netherlands spend less during the festive season.

Britain – Hey big spender 

As retail habits evolve in the UK, with online spending booming and events like Black Friday and Cyber Monday becoming part of our shopping calendars, the average Christmas spend is rising.

But will we buck the trend in 2019?

Well, expectations are mixed.

According to insurance company Bobatoo’s 2019 Christmas Spending Survey, only 15.7% of people plan to spend more than £700 this year, but new research from professional services company Accenture predicts 87% of shoppers will spend more than they did last year.
Whether you’re splurging or saving this December, we hope you all have a very Merry Christmas and a wonderful New Year!
If you need to send money to loved ones during the period please give us a call on +44 (0) 20 7847 9400 or log in to your online account.

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Currencies Direct

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