Staying home for Christmas: Europeans and their second coronavirus festivities

Out of around 1,000 participants per country, 86 percent aren’t planning to leave their hometown for Christmas. That's according to an ING survey in Germany, Poland, Spain, Belgium and the Netherlands. The range is from 83 percent in the Netherlands to 88 percent in Poland. Of those who do want to travel, two-thirds will do so domestically. Less than one percent plan to leave Europe. The numbers look very similar for New Year, with people slightly more inclined to travel.

Roughly four out of five will spend Christmas alone or with their closest family only; another 16 percent plan on seeing other relatives as well. Only 3 percent turn to friends, and virtually nobody is going to meet new people this Christmas. As with traveling, people expect to open up a bit for New Year: 11 percent will be with friends for the turn of 2022. Still, 77 percent will welcome the new year alone or with just their closest family.

While around 20 percent of consumers are looking look to cut back on their spending on holidays, celebrations and gifts compared to last year, a clear majority will spend the same amount or even more than in 2021. When it comes to gift shopping, roughly two out of three turn to clothes, shoes and accessories, with apparel being the most popular category.

Around a third each will give toys or games, cosmetics, books – and money, probably the most efficient gift from a utility point of view, as economist Joel Waldfogel pointed out as early as 1993.

If you feel pressured into spending money for gifts and the like, you’re probably not alone. 60 percent agree that they “think people feel social pressure to spend money during Christmas”.

To counter this pressure, 51 percent will make a budget, 46 percent will make a conscious effort to stay out of debt from spending on Christmas and New Year, and 41 percent go bargain-hunting for sales and discounts. Only 25 percent agree that “regardless of my financial situation, Christmas/New Year is the one time of the year I allow myself to not worry about spending money”, with 41 percent disagreeing.

By now, you’re hopefully done with gift shopping and most other preparations for the holidays. Take a step back, relax, and try to enjoy the things money can’t buy – along with the things it can, because remember: If money doesn’t make you happy, you’re probably not spending it right. Happy holidays!