The average Pole in 2024 plans to spend around PLN 1,576 during Christmas, representing an increase of 5.77% compared to 2023. As much as PLN 681 will be allocated for gifts, which is 20.5% more than the previous year, while expenses for hosting the festive meal will cost PLN 637. Despite rising prices, the percentage of Poles deciding to limit their expenses has decreased – only 52% of respondents declare cutting costs for Christmas preparations, marking a decrease of 13 percentage points compared to 2023 when 65% of those surveyed planned on saving money.
The Association of Polish Banks has published its annual report titled “Polish Christmas Wallet,” analyzing the consumption plans of Poles during the Christmas season. As every year, the report answers the question of how much Poles will spend on Christmas-related shopping, taking into account presents, food items, and traveling costs to visit relatives.
The report shows that the average amount Poles plan to spend for Christmas preparations is PLN 1,576, representing a 5.77% increase compared to PLN 1,490 spent in the previous year. This indicates that Christmas expenses are still on the rise, although the increase is lower than in previous years when inflation reached record levels.
Even with noticeable price increases, Poles do not seem to abandon their tradition of exchanging gifts and celebrating the festive season with family. The planned budget for gifts amounts to an average of PLN 681, indicating a 20.5% increase compared to PLN 565 in 2023. The average Pole will spend PLN 637 on food items and Christmas preparation, marking an almost 5% increase from PLN 607 last year. Traveling costs to visit family will increase by 13%, reaching an average amount of PLN 359 (compared to PLN 318 in 2023).
The Christmas shopping list not only includes gifts but also traditional food items, which are an essential element of the Christmas Eve feast. This year, the prices of some products, especially fish, have changed. For instance, a kilogram of carp this year will cost PLN 86, which is 7.5% more than last year. This increase in expenditures is partially offset by lower costs of some items, such as vegetables, oil, and flour, which have become cheaper this year.
In the 2024 edition of the report, there is a lesser tendency to cut expenditures compared to the previous year. 52% of Poles plan to reduce their Christmas expenditures (compared to 65% in 2023), out of whom 43% intend to save on gifts. 34% of the respondents plan to cut down on food items, and 15% plan on reducing travel expenses.
The current year’s report indicates that despite rising costs of living, Poles still maintain the tradition of celebrating Christmas. Increased expenditures on gifts or traveling are partly an indication of our need to build relationships and happiness and partly a signal that we are increasingly resorting to additional sources of financing, such as consumer loans.
The “Polish Christmas Wallet 2024” describes not only the above data but also changes in prices for goods and services comprising the so-called “Christmas basket.” As every year, we analyze the expenditures of an average four-person family – from our calculations, it appears that this year they will spend over PLN 3,800, representing a small increase compared to 2023 when the costs reached PLN 3,739.7.
The approaching Christmas season is a time for family gatherings, but also challenges for our wallets. The increase in prices, although less painful than last year, still affects Poles’ purchasing decisions. The report shows that this year, Christmas expenses will be slightly higher, and Poles increasingly resort to consumer loans to achieve their plans.
About the report: “Polish Christmas Wallet 2024” is an annual publication of the Association of Polish Banks, representing a synthetic presentation and analysis of the most important trends and data related to Poles’ consumer activity during the Christmas season. The report is based on public opinion research performed by the research agency Minds & Roses using internet interviews from November 9-16, 2024, on a representative sample of 1,000 adults (18+), as well as a survey of 76 bank branches from across the country that represent all types of banks. The report has also been supplemented with selected external data from institutions like GUS, CBOS, and EUROSTAT. Prices and services presented in the report have been calculated independently.
Source: https://managerplus.pl/polacy-wydadza-wiecej-na-swiateczne-stoly-i-prezenty-planujac-srednio-1576-zl-na-swieta-76311
