Luxembourg households plan to spend €16 more on the holidays, say Deloitte and the CLC
Photo: Steve Eastwood (archives)
Economy: After several straight years of decline, Luxembourg consumers are planning to shell out more this end-of-year season, a report says.
Residents of the Grand Duchy will spend slightly more than last year on the holidays, and the second highest amount in Europe, a new study has said.
Luxembourg households have an average planned year-end budget of €825, according to a report issued by consulting firm Deloitte and CLC, the industry group that represents retailers in the Grand Duchy.
That is a rise of €16 over last year, and reverses several years of declines. The figure was €900 in 2011 and €1,200 in 2010.
Irish households, with a forecastholiday budget of €894, topped the list of the 18 countries in Europe and South Africa covered by the study, which was released on Thursday.
The third highest figure was Finland’s €692.
French households expected to dispense €531, Belgians €503 and Germans €399.
The lowest estimated expenditures were found in Ukraine (€374), the Netherlands (€286) and Poland (€268).
The other countries in the study were the Czech Republic, Denmark, Greece, Italy, Portugal, Russia, Spain and Switzerland.
The questionnaires included spending on gifts, holiday meals and outings, but excluded travel.
Luxembourg respondents planned to spend an average of €71 per gift, €36 more than the average and highest figure among the surveyed countries. Books were the most popular planned present (40% said it was on their gift list), followed by cosmetics and perfumes (25%), and jewellery and watches (24%).
Surveys were fielded by research firm TNS, which quizzed more than 17,000 consumers in the 18 countries, including 602 in the Grand Duchy.