A serious decline in Bulgarians’ spending for the holidays

Bulgarians spent twice lower an amount of money than last year to celebrate Christmas and New Year's Eve, showed data of the traditional holiday survey, conducted by TNS BBSS.

Although the way people celebrate these holidays has not changed, compared to previous years, Gallup registered a significant decline in the average amount Bulgarians spent for the holidays – for presents for their loved ones and relatives, for decoration, congratulations and post cards. Such a significant drop in Christmas spending among Bulgarians has been registered for the first time since 2006.

The average amount spent by our fellow countrymen for the biggest holidays of the year was steadily growing from 2006 till 2009. The highest average amount Bulgarians spend for celebrating the holidays is BGN 154, including costs for gifts, cards and decorations (a Christmas tree, garlands, lights).

During the first years of the economic crisis, the worsened economic situation failed to seriously affect the holiday spending of Bulgarians. The average amount spent at the end of 2011 was almost the same as during the “peak” year 2009.

This year, we notice the first “turnaround” in Bulgarians’ readiness to celebrate the Christmas and New Year season, with an average spending of BGN 72. This amount is twice lower than last year's and the lowest registered since TNS BBSS launched its pre-Christmas surveys. This, of course, does not mean that the incomes of the population have dropped twice. It is rather an indication of the increasing cautiousness of Bulgarians, given the risk of decreasing incomes and/or losing their jobs.

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