Austrians spend about € 2.5bn on gifts

BusinessEconomy ♦ Published: December 14, 2010; 12:07 ♦ (Vindobona)

Spending propensity shows a rising trend. Cash is still the most widely means of payment.

Austrians spend about € 2.5bn on gifts / Picture: ©

89% of Austrians buy Christmas gifts and will spend this year a total of about € 2.5bn. This is the result of a representative survey by the market research firm Integral on behalf of the Erste Bank. An average of € 390 are spent on Christmas gifts (2009: € 364). The money for this comes in the case of 70% of respondents predominantly from their savings; 40% of Austrians also…