FINNS are planning on spending 565 euros per adult – 34 euros more than one year ago – on gifts and other expenses at Christmas, reveals a survey commissioned by Nordea.
“The economy picking up, the employment situation improving and the uncertainty dissipating have all contributed to improving consumer confidence in their own economy. This is evident this year as an up-tick in spending over Christmas,” analysed Juho Kostiainen, an economist at Nordea.
Finns, the survey found, are planning on spending an average of 341 euros on gifts and 224 euros on other expenses.
Although the majority (57%) of all respondents said the climate emergency does not factor into their consumption choices over the holidays, approximately a half of 18–34-year-old respondents said climate considerations influence their choices. Almost a half (48%) of respondents said they could consider giving second-hand products as gifts, while almost a quarter (23%) said they have already done so.
Both the emergency and coronavirus pandemic, however, appear to have had an impact on holiday travel plans, with 15 per cent of respondents citing the pandemic and 10 per cent the emergency as a reason for spending Christmas in Finland.
“The coronavirus and climate change are permanently changing people’s travel habits,” viewed Kostiainen. “A larger share of the money Finns spend on travel will stay at home.”
Almost three-quarters (74%) of the respondents said they intend to pay for the expenses with their normal income, according to the financial services provider. The share of people using their savings for the holidays increased by three percentage points year-on-year to 27 per cent.
Over 1,000 18–79-year-old people responded to the survey.
Aleksi Teivainen – HT