Published: November 15 2023
Christmas is a time for celebration and gift-giving, and it seems that Hungarians are planning to spend more this year compared to previous years. According to a recent survey, people in Hungary are anticipating to spend 20% more on Christmas in Budapest.
Increased Spending on Christmas
The average budget for holiday spending in Hungary is projected to be 118,000 Hungarian forints. This amount includes expenses for gifts and holiday meals. This year, Hungarians are planning to spend more on gifts, with an average budget of 47,000 Hungarian forints. The majority of people plan to cover these costs from their monthly income, while some rely on end-of-year bonuses or savings. The budget for Christmas has increased by nearly 20% compared to the previous year.
Thoughtful Shopping and Popular Gifts
A significant number of people in Hungary (50%) do not leave their Christmas shopping to chance. Only one-fifth of the population decides what to buy during their Christmas shopping trips. Many people take advantage of November sales, such as the Black Friday promotions, to buy gifts. The most popular gifts include cosmetics, clothing, branded beverages, and food. Kitchen appliances are also a popular choice. The survey also examined the correlation between Christmas spending and financial situations. While some people (24%) comfortably manage their expenses, three-quarters of households face financial difficulties.
Despite financial challenges, a significant portion of Hungarians (25%) still prioritize festive cooking and baking during the holiday season. Additionally, the majority of Hungarians (66%) plan to decorate a Christmas tree, and 80% of them will have trees of the same size as the previous year. However, 57% of Hungarians plan to choose an artificial tree instead of a real one.
Workplace Christmas Customs
While most workplaces (55%) have some form of Christmas tradition, only 14% of employees expect end-of-year bonuses. Some companies celebrate with office parties, while others decorate the office and distribute bonuses and material gifts to employees.
Future Plans for Loans
According to the survey, 9% of Hungarians plan to take out a loan in the next year. Personal loans are the most popular type, with an average loan amount of 1.33 million Hungarian forints. The most common reasons for taking out a loan are home purchases, home renovations, and car purchases. Additionally, some people consider taking out a loan to maintain balance in the family finances or to pay utility bills.
In conclusion, Hungarians are preparing to spend more on Christmas in Budapest this year, with increased budgets for gifts and holiday expenses. Despite financial concerns, many people are determined to uphold holiday traditions and spread joy through thoughtful gift-giving.
Questions & Answers
How much do Hungarians plan to spend on Christmas in Budapest this year? Hungarians are planning to spend an average of 118,000 forints on Christmas this year.
What is the budget breakdown for Christmas spending in Hungary? The average budget for Christmas in Hungary should cover both gifts and holiday meals.
How much do Hungarians plan to spend on gifts? On average, Hungarians plan to spend around 47,000 forints on gifts this year.
How do most Hungarians cover their Christmas expenses? The majority of Hungarians cover their Christmas expenses from their current monthly income.
Do some Hungarians rely on end-of-year bonuses from their employers for Christmas expenses? Yes, some Hungarians expect to receive end-of-year bonuses from their employers to help cover their Christmas expenses.
When do most people in Hungary start shopping for Christmas gifts? The majority of gift shoppers in Hungary start shopping in November, taking advantage of events like Black Friday sales.
What are the popular gift categories in Hungary? Popular gift categories in Hungary include cosmetics, clothing, branded drinks and food, and kitchen appliances.
Is there a correlation between Christmas spending and the financial situation of Hungarians? According to a survey, 24% of Hungarians find their income comfortably covers their expenses, while three-fourths of households have financial gaps.
Do many Hungarians still prioritize holiday traditions like cooking and decorating a Christmas tree despite financial difficulties? Yes, a quarter of Hungarians still prioritize holiday traditions like cooking and decorating a Christmas tree, even during financial difficulties.
How many Hungarians plan to decorate a Christmas tree this year? Two-thirds of Hungarians plan to decorate a Christmas tree this year.
What percentage of Hungarians plan to use an artificial Christmas tree? According to the survey, 57% of Hungarians plan to use an artificial Christmas tree.
Do people in Hungary experience stress during the Christmas season? Some people in Hungary do experience stress during the Christmas season, with more than a quarter (27%) feeling stressed, including concerns about finances.
Do most Hungarian workplaces have Christmas traditions? According to the survey, the majority of Hungarian workplaces (55%) have some form of Christmas traditions.
How many employees in Hungary expect end-of-year bonuses from their workplace? Only 14% of employees in Hungary expect to receive end-of-year bonuses from their workplace.
What types of bonuses or perks do some Hungarian workplaces provide during the holiday season? Some Hungarian workplaces have Christmas parties (25%), decorate their offices (17%), distribute bonuses (15%), and give tangible gifts to employees (14%).
What percentage of Hungarians plan to take out a loan next year? According to the survey, 9% of Hungarians plan to take out a loan in the next year.
What are the popular reasons for taking out a loan in Hungary? Popular reasons for taking out a loan in Hungary include home buying (31%), home renovations (32%), and purchasing a car (22%).
Would some Hungarians consider taking out a loan to balance their family finances? 12% of Hungarians can imagine taking out a loan to balance their family finances.
Are there Hungarians who would consider taking out a loan to pay their utility bills? 11% of Hungarians would consider taking out a loan to pay their utility bills.