Spanish Spending Big This Christmas

Spanish Spending will be Big This Christmas

Confidence is high this year and Spaniards are spending more

A study published recently by Deloitte shows that Spaniardswill be spending an average of €682 this Christmas, which is just under a third higher than the EU average. This figure brings them second place in Christmas spending in Europe. The top spot goes to the Danes, who are expected to be spending around €689 per head during the festive season.

Deloitte are predicting that overall Europeans are in for an average spend of €517 this Christmas, down 1% from last year. Deloitte say that Spanish consumer confidence is clearly on the rise, as two-thirds of the Spanish people they surveyed said that they felt they had just as much spending power as they had last year, if not more. This is up from the 52% of people who said the same thing on the run up to Christmas 2015.

Given that Spain is in the lower half of the EU in terms of the ratio of their income to living costs, it looks like optimism in Spain is very high. Other places where people are gearing up to spend more than the European average include Italy with €614, Belgium with €592 and Germany with €529.

On the opposite end of the table are the countries looking to be spending the least including Greece at €439, Portugal at €431, and Poland at €328.

The majority of the money Spaniards will be spending on Christmas (around €265) is going towards the actual gifts. This figure is up 1% from last year. Next comes food at €212 (an increase of 7%), travel at €132 (p 5%) and everything else will come to around €73 (an increase of 6% over 2015).