Study: Estonians plan to spend 73% more money this Christmas

Tallinn Christmas market (Siim Lõvi /ERR)
12/8/2015 4:55 PM
Category: Economy

According to a study by Ferratum Group, Estonians plan to spend 73 percent more money on Christmas presents than a year ago. That makes on average 501 euros per household.

Last year Estonians spent on average 290 euros per household, Postimees reported, adding that the average household in Lithuania is planning to spend 502 euros, while the figure for Latvia is 355 euros. Compared to the average income of a household, Estonians will spend 25.2 percent of their average net income in December, Lithuanians plan to spend 26.1 percent and Latvians 20.4 percent.

According to the study, Estonians plan to make 15.6 percent of their Christmas purchases online, which is a lower rate compared to Latvians (16.9 percent) and Lithuanians (20.2 percent).

Salaries in Estonia have risen around 5 percent on average in a year, while inflation has flat-lined.

J.M. Laats

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