This is how Hungarians spend money for Christmas

As the holiday season approaches, the majority of Hungarians start buying Christmas gifts in November – according to a national, representative survey commissioned by Erste, in which 1,251 people participated. Most people plan to spend the same amount (67 percent) or less on surprises than last year, which can also be explained by the fact that based on their spending so far, many people (40 percent) have already spent more this year than originally planned.

The majority of respondents (58 percent) plan to spend a total of between 25,000 and 100,000 forints on holiday gifts, but spending over 50,000 forints is more common among high-income earners and those living in Western and Central Hungary. Respondents typically spend a similar amount on children and adults: they usually buy gifts worth between 5,000 and 20,000 forints per person. The vast majority cover their purchases from their monthly income (70 percent) and/or savings, and few (3-3 percent) use credit or other bank loans.

Many people buy sweets, food (47 percent), or clothes (41 percent) for Christmas, but toys are also popular (45 percent), especially among women and families with children. Books and experience-based gifts (such as theater tickets, travel) are particularly popular among graduates and residents of the capital, while electronic devices are mainly dominant among men.

The majority of respondents (76 percent) sometimes spend a little more than planned, but the reasons for this vary. Many people cannot resist sales (22 percent) or want to make the holiday special (28 percent) and emotional shopping is also common (26 percent), especially among young people.

“Christmas is generally not a time for saving, our customers spent an average of 19 percent more last December than in the other months of 2024. Those who use George, i.e. 74 percent of our customers, can now track exactly where their money goes and where they exceed their monthly budget, so they won’t be surprised after the holidays either”

– said Rita Mészáros, Head of Customer, User Experience and Market Research at Erste.

“It is important to pay attention to spending even in the increasing advertising noise at the end of the year, as more resources can be left for longer-term goals with conscious decisions also: from a small renovation, even to your own home”

– he added.