Kenyans To Spend Nearly Twice Their Salaries On Christmas: Survey

By Kepha Muiruri

Kenyans are expected to spend nearly twice the average monthly income on the upcoming Christmas festivities according to a new survey.

The survey by WorldRemit projects spending on Christmas to stand at 1.65 times the average monthly income highlighting the high costs associated with the festivities.

Spending in absolute terms on a year over year basis is however expected to decline by 17 per cent this year in contrast to 2021.

The anticipated higher spending for the holidays has been largely tied to a higher cost of living this year.

In Kenya for instance, the rate of inflation currently stands at a five year high rate of 9.6 per cent with food inflation setting a new high of 15.3 per cent in October.

“The increase in the cost of Christmas was in part, attributed to a rise in the amount of money allocated towards food over the holidays. Families globally will likely need to shift their budget planning to accommodate for the increased costs of holiday meals,” the Survey noted.

The higher spending on Christmas festivities relative to average income points to the deterioration of house-holds financial position across the year.

In Lebanon for instance, households are expected to spend an average of nearly seven times their monthly incomes on the festivities.

The Cost of Christmas survey is based off research on the average cost of typical Christmas meals, gifts, traditions, travel and decorations.

In Kenya, where mean spending on the festivities is estimated at Ksh.25,864 ($212), about one third or 33 per cent of the Christmas budget is set to cater for food costs.

The bulk of costs at 40 per cent is however dedicated to Christmas gifts with the balance set aside for decorations.