Facts on 2010 Christmas Spending in Italy

It’s interesting to hear what people are spending on their Christmas celebrations, and some might use such facts as an indicator of the economic and social well-being of a country and its population. With that in mind, here are a few Christmas 201o spending facts from Italy.

Is the global economic crisis having a freezing effect on Christmas spending in Italy this year? Read on to find out.

The answer according to an article on the website of Italian newspaper Il Giornale is a big yes. According to the article, seven out of ten Italians are cutting down on festive expenditure for the 2010 Christmas.

Again from the same article, the total Christmas spend in Italy is estimated at being 14.2 billion Euros, with Italians spending an average of 284 Euros a head on Christmas presents and Christmas food and drink. According to an item on the ASCA web site, Rome’s population are spending €273 Euros a head, while in Naples the Christmas spend figure is €262. The population of Milan is shelling out around €290 each on the festivities this year.

Christmas Spending in Italy Down this Year

Around 40% of Italians are spending less on Christmas gifts this year than in 2009. Whether this means Italians have less in the bank is not clear. Being super savers, it is possible that they are cutting down in order to have more put by for a rainy day, however seeing as nearly 9% of Italians (more if the Bank of Italy uses its statistics), then those without work won’t have as much to spend.

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Around 25% of Italy’s workers in the 15-24 age group won’t be pushing the boat out this Christmas seeing as they don’t have jobs and won’t have any income.

Some 27.1% of Italians will be pulling out all the stops as they are not feeling the effects of the crisis, which is good news for them, and for Italy’s shop owners and businesses.

Still, the fact that 70% of Italians are cutting down on Christmas expenditure indicates that uncertainty is in Italy’s frosty winter air.

Sources
Il Giornale 22 December 2010 – La spesa media per i doni e il cenone: 284 euro a testa – The Average Spending on Gifts and the Christmas meal: €284 per head

ASCA – 21 December 2010 – NATALE: CCIAA MI, 284 EURO DI SPESA A TESTA PER LE FESTE – Christmas: CCIAA (Italian Chambers of Commerce) 284 Euros a head for the Festivities

Chad

+Alex Roe is from the UK, but has lived and worked in Milan, Italy, for many years. Alex has been interviewed by the BBC on Italy issues. He tweets news and information about Italy to over 37,000 Twitter followers via @newsfromitaly on Twitter.

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