Christmas Spending in Spain
December 19th, 2011
Spanish spending this Christmas season is expected to consist of an average budget of 560 euros per person, which is more than 100 euros less than the previous year, according to a study by the Independent Consumers Federation (FUCI).
The report, compiled by conducting a survey of 3,000 consumers during the months of October and November, showed that the fall in consumption will continue this year, following the previous decreases of 7.4% in 2010, 10.5% in 2009 and 6% in 2008.
El Mundo reported that the items with most importance in the Christmas budget are food products (187 euros), toys and gifts (185 euros), followed by lottery tickets (100 euros) and spending on leisure/eating out (88 euros).
The biggest spending cuts will occur in the entertainment section, decreasing by 41% over last year. On the other hand, the budget for food will drop by 7%, while spending on toys and gifts, which in the past two years was higher than for food, will lower by 10%.
According to FUCI clothing will replace perfume as the ‘star’ gift for adults “for its usefulness, and as a way in which consumers can renew their wardrobe”. The Spanish will spend 14% less on purchasing lottery tickets, with an average of 100 euros each spent between the Christmas raffle and el Niño.
According to the president of FUCI, Gustavo Samayoa, the study highlights “the plight of thousands of families in the country, who must cut their spending over this period due to the economic problems being suffered.”
For this reason, the consumer organisation recommended greater moderation and planning of purchases, comparing prices and quality in different establishments so that the family economy does not suffer too much. “Despite the cuts, spending soars over this period, and the Spanish must keep a cool head so as not to suffer in January the excesses of Christmas,” they said.
By region, Madrid and Valencia are at the forefront of spending with over 600 euros per person, while the Canary Islands (500 euros) and Galicia (510 euros) are at the opposite end.
Consumers in Navarre and the Balearic Islands will spend more money on eating out, holidays and breaks (105 euros), while the Galicians will spend more time indoors (55 euros).
Catalonia is the region where more will be spent on food (200 euros), compared to Extremadura (170 euros), while Valencia spends the most on the Lottery (125 euros), compared with Castilla y León (85 euros).
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