A study of the “World Remit” website revealed the cost Christmas holidays Surprisingly, in a wide range of countries in the world, after “Lebanon” came at the top of the ranking, according to the total cost per family.
The site based its data on 3 aspects of spending: “the cost of food”, “the cost of decorating operations” and “Christmas gifts”, which exceeded $ 2,000 in a country suffering from severe economic crises.
Food had a large relative weight in costs in some countries, especially Lebanon, the Philippines and African countries, exceeding 45% of the families’ Christmas budget, according to what Al Arabiya.net viewed.
But in most countries, the bulk of the Christmas budget was allocated to gifts. Gifts were the highest cost among the three indicators in more than half of the countries. In fact, 60% of all countries found that they spend more of their budgets on gifts and food.
Christmas inflation and high cost
Global inflation is also affecting Christmas shopping this year. According to the WorldRemit 2022 Cost of Christmas Study, the report predicted an increase of up to 156% in the total cost of Christmas this year, due to increased inflation.
Last year’s study looked at 14 countries where the bulk of average costs were allocated to food during the holidays. In 2022, the study saw an increase in the prices of Christmas items for some of these 14 countries. 9 new countries have been added to the list.
Of the 23 countries surveyed in 2022, developing economies such as the Philippines, Uganda and Nigeria are likely to spend more than 100% of their total monthly income on Christmas, while in the UK, Christmas will cost 65% more than in 2021.