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Dec 11, 2017

Hungarian households will spend around 100 billion HUF on Christmas presents this year

Hungarians are set to spend between 3-4 percent more on Christmas presents in 2017 compared to last year. Consumers will also spend around 100 billion HUF on food for their holiday meals

Hungarians are set to spend between 3-4 percent more on Christmas presents in 2017 compared to last year, it has been revealed.

According to MTI, Hungarian households will spend around 100 billion HUF (319 million euros) in total on Christmas and holiday presents this year.

György Vámos, general secretary of the National Commerce Association (OKSZ), said consumers will also spend around 100 billion HUF on food for their holiday meals.

Retail sales in the last month of the year could reach 1,050 billion HUF, a four percent increase from last year, he said. The two weeks before Christmas are the busiest time in shops, with the 200 billion HUF spent on holiday shopping account for about 20 percent of total spending in December.

Retail chain operators Spar, CBA, Tesco, Aldi and Lidl said that they projected a big increase in turnover in the holiday period compared with 2016.