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Tuesday 25.07.2017 | Name days: Jēkabs, Žaklīna

Latvians to spend EUR 346 on Christmas gifts; neighbours to spend twice as much

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUResidents in Latvia plan to divert up to 19.83% of their monthly household income or EUR 346 to Christmas expenses. Residents in Lithuania and Estonia, on the other hand, plan to divert EUR 538 and EUR 571 respectively. The latter two are some of the highest indexes among 20 surveyed countries.

Compared with last year, residents in Latvia plan to divert nine euros less for Christmas gifts. Planned expenses of residents in Lithuania and Estonia, on the other hand, have grown in comparison with the previous year. Lithuanians plan to divert 30.3% of their household’s monthly income, whereas Estonians plan to divert up to 28.66% of their monthly income. Latvia is on the 15th place among other countries in regards to planned expenses for Christmas. Lithuania is on the 2nd and Estonia is on the 3rd place, according to data from the latest Ferratum Group barometer.

«Although festive expenses in Latvia are lower this year, our results show that Latvian are only 2% below the average European index. The country remains ahead of countries like France, Norway, Netherlands and Finland,» – Latvian coordinator Evita Grunberga comments on the data.

According to barometer data, toys and games are the most often chosen gifts for Christmas – 22%. Sweets and delicacies follow with 15% and household appliances are the third most popular type of gift with 13%. What is most interesting is that travel is the fourth most popular category of festive expenses. 11% of respondents from Latvia plan to travel. Lithuanians and Estonians also divert most of their gift money toward toys and games (17% and 22% respectively). Cosmetics are the second most popular category (14% in Lithuania and 11% in Estonia).

Online shopping is steadily becoming popular in Latvia. Although a decline in online purchases is expected this year, 15.79% of households in Latvia plan to make gift purchases online (15.42% in Estonia and 19.39% in Lithuania). Compared with last year, the number of purchases made online has grown by almost 3%, reaching 24.54%.

Results of this year’s study have marked major changes in countries whose residents plan to divert larger sums of money to Christmas expenses. The leader in this regard is Germany, where residents plan to divert 30.58% of household income or EUR 807 to Christmas gifts. Residents in the UK plan to divert 23.41% or EUR 695 towards buying Christmas gifts.

13,000 household around the world were interviewed as part of the study. 47% of respondents admitted having plans to spend the amount of money as last year. 37% said they wish to reduce their festive expenses.

Ref: 102.109.109.6809


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