Will Spaniards be big spenders this Christmas?

Spanish spending at Christmas has taken a hit in recent years

In 2008, the year that the global economic crisis first took root, Spaniards spent an average €900 per person at Christmas – a figure that was some €170 more than the average American and the third-highest figure in the EU, after big-spending Brits and Germans.

This year, however, that figure is expected to have fallen 40 per cent from the 2008 high, according to the latest research from Spain’s Federation of Independent users and consumers (Fuci) – one of the country’s leading consumer watchdogs…

Yet this lower spending is no one-off. In the four Christmases since 2008, Spaniards have drastically reined in their festive spending – a tangible reflection of the nation’s wider economic situation. And while spending this Christmas is forecast to be below last year’s levels, consumer confidence is scheduled to return to Spain’s retail sector early next year.

Until then, though, there is one more frugal festive season on the cards, with Christmas expenditure following the same pattern as other disposable income choices: spending on holidays among Spaniards is down by 71% since 2008; Spaniards spend 21% less on lottery tickets today than they did five years ago, while general expenditure on leisure pursuits is down by 23% since 2012.

“This Fuci report serves as a picture of the current situation in our country,” said Fuci President Gustavo Samaoya. “This year, the crisis continues its whipping, which has provoked a sustained easing in spending among Spanish families.”

Not great news for excitable children then, but a sign that Spaniards have accepted that tough decisions need to be made. The hope, therefore, is that 2013 represents the final episode in the belt-tightening saga: one last inward take of breath before the relief and release of 2014.

The signs are positive – foreign investment in Spain’s economy is up, the country is running an account surplus for the first time in many a year, and the jobless rate is rising at its slowest pace since the recession began.

And anyway, €900 per person at Christmas was way too much: sobriety may seem boring after many years of hedonistic living, but it’s a far more enjoyable and sustainable way to live. After all, to enjoy a proper, wholesome Spanish Christmas, you don’t need much money – just good food and good company: something that is in abundance throughout Spain.