Source : Diário de Notícias 15/11/2007
The Portuguese are going to spend an average of €596 this Christmas, €276 of which is destined to buy the usual presents. The forecasts are the results of a study by Deloitte, released this week, that has identified a proprotional fall in expenditure on christmas presents due to pressures on family budgets. In 2006 the costs of presents represented 60% of the festive budget, but it is expected this year to be nearer to 50%.
The reason is the rise in the costs of food and necessities, the rise in fuel costs, increased interest rates, and an overall relative reduction in earnings. The estimate is that the Portugueses will spend €216 euros on food and beverages, with a further €104 euros on festivities and eating out over the festive period. The research will be proved or otherwise in the second half of November and the first half of December, when traditionally the bulk of the festive budget is spent. In Europe generally, 53% of the population will have less money to spend this christmas, furthermore 41% believe that the economic
situation will deteriorate, whilst only 28% are believe that better times are ahead. The study was carried out in 20 countries and involved 32,000 participants, including 400 from Portugal.
If you are thinking of buying a present for a friend or neighbour, you might like to know that in Portugal clothes are the most popular gifts, followed by books and money. Generally in Europe, books come first. The kids will get CD’s, MP3 players, and mobile phones (in that order). Shopping on the internet continues to surge, with purchases of books (48%), music/cds (37%), and videos/dvds (29%), ordered through that route.
I am just guessing, but I would think the situation on Madeira always was and still is somewhat worse than in the mainland when it comes to matters of money and christmas, unless you are one of those rich Funchalians of course.
Well I am off to write a book or two, and see if I can grab some of that €276 itching to be spent! Otherwise we at madeira4u will be having the usual frugal christmas affair, though luckily large stocks of cerveja and vinho were purchased during a half price sale earlier in the year, and luckily we now have a 3 figure balance on our Modelo loyalty card. We won’t be stocking up on spirits though, despite an excessive summer binge by certain guests (bad luck LL!). ….. I am still wondering why Deloitte wanted to depress everyone with this survey before Xmas, knowing that deepset depression takes place anyway starting on 2nd January!
http://www.madeira4u.com
