Hungarians Preparing to Spend More: Christmas Budgets on the Rise

Published: November 16 2023

Hungarians are expected to increase their Christmas budgets this year, planning to spend an average of HUF 118,000 (EUR 313), which is nearly 20 percent more than last year. This increase in spending comes despite financial difficulties, with more people planning to cover their holiday expenses from their current monthly income.

Hungarians who plan to give presents are thinking of spending HUF 47,000 (EUR 125) on gifts. Despite the financial constraints, Hungarians are not planning to reduce the size of their Christmas trees and intend to continue with their traditional baking and cooking.

Half of all Hungarians plan ahead and think in advance about what they would like to buy and for whom. The majority of gift-givers start their shopping in November, with a small percentage even starting in October or earlier. Small kitchen appliances are becoming increasingly popular, with 13 percent of Hungarians considering this category for their gifts.

Nine percent of Hungarians plan to take out a loan in the next year, with personal loans being the most popular choice. The average loan amount is HUF 1.33 million (EUR 3,529). The most common purposes for these loans are buying a home, renovating a home, and purchasing a car.

A third of Hungarians buy their Christmas presents during Black Friday sales. Nearly 30 percent of Hungarians are aware of Black Friday and plan to take advantage of the sales to buy some presents. Last year, three out of ten Hungarians made a purchase during the Black Friday campaign. Students and pensioners are the most aware of these promotions, with 99 percent and 96 percent, respectively, being familiar with Black Friday.

Despite financial difficulties, Hungarians are preparing to increase their Christmas budgets this year. They plan to spend more on presents and maintain their festive traditions. Many Hungarians are also aware of and plan to take advantage of Black Friday sales for their holiday shopping.

How much are Hungarians planning to spend on Christmas this year? Hungarians are planning to spend an average of HUF 118,000 (EUR 313) on Christmas this year, which is nearly 20 percent more than last year.

How much are Hungarians planning to spend on gifts? Those who are giving presents are thinking of spending HUF 47,000 (EUR 125) on gifts.

Are Hungarians planning to reduce the size of their Christmas tree this year? No, Hungarians are not planning to reduce the size of their Christmas tree. They will stick to the big festive baking and cooking despite financial difficulties.

What proportion of Hungarians plan to cover their holiday expenses from their current monthly income? The proportion of Hungarians planning to cover their holiday expenses from their current monthly income has increased from 56 to 65 percent compared to last year.

When do most gift-givers in Hungary start their Christmas shopping? The majority of gift-givers in Hungary begin their Christmas shopping in November, but 17 percent already start shopping in October or before.

What type of items are becoming increasingly popular as Christmas gifts in Hungary? Small kitchen appliances are becoming increasingly popular as Christmas gifts in Hungary, with 13 percent considering this category.

What percentage of Hungarians plan to take out a loan in the next year? According to a survey, nine percent of Hungarians plan to take out a loan in the next year. The most popular type of loan is a personal loan.

What are the most common purposes for taking out a loan in Hungary? The most common loan purposes in Hungary are buying a home (31 percent), renovating a home (32 percent), and purchasing a car (22 percent).

How many Hungarians plan to spend less than HUF 10,000 on gifts for loved ones this year? According to a survey, 46 percent of Hungarians will spend less than HUF 10,000 (EUR 27) on gifts for loved ones this year.

What percentage of Hungarians are aware of Black Friday? Nearly a third (30 percent) of Hungarians are aware of Black Friday.

How many Hungarians made a purchase during the Black Friday campaign last year? Last year, three out of ten (30 percent) Hungarians made a purchase during the Black Friday campaign.

Who are the most aware of Black Friday promotions in Hungary? Students (99 percent) and pensioners (96 percent) are the most aware of Black Friday promotions in Hungary.

What percentage of Hungarians are expected to do their Christmas shopping this year? Up to one in two (50 percent) Hungarians could be shopping for Christmas this year.