In Latvia, 36% of residents plan to spend between 50 and 150 euros on Christmas and New Year celebrations, representatives of the bank reported to the LETA agency, citing a conducted survey.
Last year, 28% of respondents planned to spend between 50 and 150 euros on Christmas and New Year celebrations. The number of residents intending to spend between 150 and 300 euros has also increased: 25% of residents in Latvia plan such expenses, which is six percentage points higher than the previous year. At the same time, the number of those who expect to stay within the range of 300 to 500 euros has slightly decreased, while the share of residents willing to spend 500 euros or more on the holidays this year is half of what it was before.
Survey data showed that 72% of residents plan to cover their holiday expenses from monthly income this year, rather than using previously saved funds.
Families with one or two children mainly plan to allocate between 50 and 150 euros for the holidays, while families with three or more children most often expect expenses in the range of 150 to 300 euros. Younger residents aged 18 to 29 predominantly indicated that they intend to spend up to 150 euros on celebrations.
The survey showed that holiday expenses vary significantly by region. Residents of Zemgale and Kurzeme, including, for example, in the Kuldīga region, most often plan to spend up to 50 euros on New Year celebrations. Expenses in the range of 50 to 150 euros are more typical for residents of Vidzeme - such spending is most often planned in the Valmiera, Gulbene, and Cēsis regions. In Riga and the Riga district, a higher budget prevails: residents there are most often willing to allocate between 150 and 300 euros for the holidays. A relatively small part of the population intends to spend between 300 and 500 euros, mainly in Latgale (10%). Only a small share of respondents plans to spend over 500 euros, mainly in Riga and Kurzeme.
