Nordea: more generous Christmas budget for Finns this year

17.12.12 10:35 | Lehdistötiedotteet

Finns calculate on spending 573 euros per person in the forthcoming holiday season. Compared to last year’s budget, this is 16 per cent more. This year Finns plan to spend more especially on Christmas presents, but more will also be spent on food, decorations and other Christmas-related shopping.

This year Finns plan to spend 330 euros on average on Christmas presents. Compared to last year’s budget, this is 50 euros more. One out of five Finns plans to spend over 500 euros. This year men will be more generous with Christmas presents than women.

A total of 252 euros per person will be spent on food, decorations and other Christmas-related shopping. This is 40 euros more than last year.

The people in southern Finland outside the Greater Helsinki area will spend the most on Christmas presents, 410 euros, whereas residents in eastern Finland will only spend 260 euros. Food, decorations and other Christmas-related shopping are the most popular spending objects in northern Finland, with spending amounting to 310 euros, and the least popular in the east, with spending of 170 euros per person.

The financial situation impacts in various ways
Six out of ten Finns plans to spend as much on Christmas purchases as last year. One out of ten plans to spend more than in 2011, but one in four is ready to spend less on Christmas purchases.

Those who will spend more than last year plan to focus on Christmas food and presents to their children and spouses. Then again, those who are ready to spend less on Christmas this year will cut the most on food, decorations and presents to friends. Less will also be spent on festive clothing.

- The survey shows that the current financial situation impacts on people in many different ways. Some people now have more money than ever, whereas, for example, those who are uncertain about their employment are inclined to cut down on their spending. But all respondents will buy Christmas presents to their children and grand-children in any case, says Anu Numminen, Nordea’s Private Economist.

This year, too, Finns plan to mainly finance their Christmas shopping with their regular income and the tax returns paid out at the beginning of the month. One in five plans to finance purchases with savings as well, whereas one in six intends to use credit cards.

This information is based on a survey commissioned by Nordea from TNS Gallup. The survey was conducted from 9 to 18 November 2012, and 1079 Finns aged 18–65 years were interviewed.

For further information:
Anu Numminen, Private Economist, +358 50 597 0447, anu.numminen@nordea.com
Marko Mettenranta, Group Identity & Communications, +358 9 165 42649