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 Christmas spending in the Balearics down by 13.8 pct

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Posts : 496
Join date : 2010-05-28
Age : 65
Location : Alcudia

PostSubject: Christmas spending in the Balearics down by 13.8 pct   Sun Jan 02, 2011 2:37 am

Families in the Balearics spent 13.8 percent less this Christmas than they did during the same period in 2009 it was reported yesterday.

An average spend of 765 euros per family last year has dropped to 660 euros during Christmas 2010.

Families cut back the most this season on entertainment and leisure, by a massive 25 percent. The figure reflects not just reductions in the seasonal spend, but also the fact that many people have decided not to go away on holiday or to take their chances on the Christmas lottery.

Spending on clothes and accessories, traditionally high at Christmas, was down by 16.3 percent in comparison with last year. Amounts that families spent on food and presents for children slumped by 6.6 and 5.6.

Surveys carried out on the average family spend suggested that of the 660 euros allocated to Christmas this year, 170 would go on gift buying, 155 euros on food, 67 on clothes and accessories and 75 on leisure and entertainment.

This year is the third consecutive occasion on which Christmas spending has declined due to the economic crisis. However not everyone was similarly affected by the crisis. A survey showed that those families belonging to what it described as “upper class” (big businessmen, financial experts, stocks and shareholders, etcetera) were forecast to increase their seasonal spending to an average of 1'425 euros, whilst middle class families were expected to settle for 1'100 euros.

More than 37 percent said that Christmas meant “spending a few days with the family” but only 8.9 percent said that the season had particular religious significance for them.


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