Christmas Spending Gone Global

Early reports suggest that Americans are spending less on Christmas. Typically, the United States spends the most on the holiday, $703 per capita in 2013, and it’s rare when other countries spend more, as Luxembourg did that same year. But such spending does not mean other countries are less enthusiastic about Christmas, notes Nathan Siegel for Oxy: “shoppers in a few countries will spend proportionally more of their income on Christmas this year than Americans, the world’s much-derided pinnacle of consumerism.” By that measure, proportion of income, South Africa, Greece and Russia spend more. The report is based on a survey of year-end spending in 17 nations by consulting firm Deloitte. The eurozone is described as vulnerable, and in Europe, books are the most desired and most offered gift throughout all age categories. – YaleGlobal