As fes­tive bud­get shrinks food is a pri­or­ity

Kathimerini English - - Focus - BY DIMITRA MANIFAVA

Greeks in­tend to spend the lit­tle money they have set aside for this fes­tive sea­son on food and en­ter­tain­ment, and not so much on presents, ac­cord­ing to an an­nual sur­vey by Deloitte.

It is there­fore hardly sur­pris­ing – but quite re­veal­ing of the stan­dard of liv­ing of a large part of Greek so­ci­ety – that the most de­sir­able gift for the ma­jor­ity of Greeks is not a piece of jew­elry or an elec­tronic gad­get, but food and drink, be that in the form of a bot­tle of whiskey or su­per­mar­ket vouch­ers.

The sur­vey, also con­ducted in eight other coun­tries, showed that con­sumers in Greece in­tend to spend an av­er­age of 439 eu­ros per house­hold this Christ­mas. Last year they spent an av­er­age of 456 eu­ros (this is the ac­tual ex­pen­di­ture and not that planned). The av­er­age bud­get across the nine coun­tries sur­veyed is 517 eu­ros for this year, against 524 eu­ros spent last year.

Out of those 439 eu­ros, Greek con­sumers in­tend to spend 156 eu­ros on food, 128 on presents, 69 on en­ter­tain­ment and 86 on trav­el­ing. In Greece food ac­counts for 35 per­cent of the Christ­mas bud­get, against an av­er­age of 29 per­cent in the other coun­tries sur­veyed (Bel­gium, Den­mark, Ger­many, Italy, Poland, Por­tu­gal, Rus­sia and Spain).

Spend­ing on gifts will ac­count for 29 per­cent of this year’s fes­tive ex­pen­di­ture, against an av­er­age of 40 per­cent in the other coun­tries. In fact, 23 per­cent of Greeks re­sponded they will buy no presents this year, up from 19 per­cent in 2015, while in the other coun­tries this rate stands at just 10 per­cent (from 8 per­cent last year).

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