While 927 million euros were given away in cash in 2020, this year it is only 713 million euros across Austria. At the same time, they were more willing to invest in consumption, according to the results of a survey by the online platform “durchblicker”. Two thirds of the monetary gifts would be spent, the rest saved. Last year it was exactly the opposite.
One in 8 people didn’t receive a gift at all
After vouchers, cash was the second most common Christmas gift, followed by books, clothing and shoes, and sweets. “At an average of 243 euros, cash presents this year are 32 euros less than at Christmas last year,” says durchblicker boss Martin Spona. But it can also move towards zero. “One in eight people didn’t receive any presents at all for Christmas; in Tyrol it’s even more than one in six,” according to the survey results.
- Video: Christmas around the world
A quarter paid with savings
For three quarters of those surveyed, their Christmas presents were financed by their current income, a quarter had to rely on savings, and another quarter used their 14th salary for them.
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