New Visa data shows Europe’s Christmas markets have a major economic impact

Visitor spending at the twenty most popular fairs has increased by 15% since 2022. In some cities, the growth is even more spectacular: Frankfurt (45%), Cologne (30%), Krakow (more than 25%) and Budapest (almost 25%) lead the way.

Christmas markets are now the mainstay of Europe’s winter economy: they boost local businesses, attract tourists and generate significant pre-Christmas traffic. The Strasbourg Christmas market, for example, achieved an increase of almost 40% in terms of spending per transaction compared to the month before the market opened, in Vienna it was almost 30% and in Nuremberg it was more than 15%.

“Christmas markets are more than just a simple tradition” – emphasized Bence Sármay, the head of Visa Hungary. “Our data shows that these events are increasingly driving cross-border spending and supporting local economies during this critical time. Digital payments are key to their success, offering a secure and convenient way to shop, whether at craft stalls at nearby fairs or at a more distant destination. People are looking for authentic, local experiences, and Europe’s fairs are seeing record attendance – a trend that is expected to continue into 2025 and beyond.”

Visa’s data shows that the busiest fairs include Prague, Krakow and Budapest, attracting tens of thousands of people daily in November and December. Strasbourg leads the way in international tourist arrivals, with an annual increase of more than 45%, followed by Lille with nearly 40% and Frankfurt with 35%.

As the holiday season draws to a close, the numbers are clear: Christmas markets are not only a tradition, but also represent a measurable economic force. Double-digit growth in visitor spending and international transactions proves that they are key players in Europe’s winter economy.

Cities with the highest average turnover growth during Christmas markets:

• Frankfurt
• Cologne
• Strasbourg
• Krakow
• Budapest
• Munich
• Copenhagen
• Lille
• Nuremberg
• Basel

Cities with the highest average turnover during Christmas markets sales increased significantly compared to the period before Christmas:

• Strasbourg
• Vienna
• Nuremberg
• Riga
• Basel
• Tallinn
• Cologne
• Krakow
• Munich
• Budapest

According to Visa data, the markets in Europe with the highest number of transactions are:

• Prague
• Krakow
• Budapest
• Copenhagen
• Stockholm
• Munich
• Bratislava
• Frankfurt
• Cologne
• Vienna