Families around the world spend 156% of monthly income on Christmas - WorldRemit Data
LONDON, Nov. 17, 2022 /PRNewswire/ --Families around the world will spend up to 156% of their monthly income on Christmas this year, according to latest results from the WorldRemit Cost of Christmas study .
- LONDON, Nov. 17, 2022 /PRNewswire/ --Families around the world will spend up to 156% of their monthly income on Christmas this year, according to latest results from the WorldRemit Cost of Christmas study .
- The study found that households in Lebanon will pay the highest amount compared to their average monthly income (688%) while families in The Netherlands will be least financially impacted, with costs only accounting for 19% of the average household's monthly income.
- In its second year, the findings are part of WorldRemit's 2022 Cost of Christmas Study, which observes how the changing macroeconomic environment affects the cost of standard Christmas elements, including the main holiday meal, average gift spending and decor, across 23 countries.
- The 2022 findings reveal the average seasonal increase across the five developed countries observed was 33%, with the UK seeing the greatest change, as prices rose more than 60% year over year.