WorldRemit conducted a multi-country research to assess actual Christmas spending in 14 nations, from which data was collected to demonstrate the average cost of conventional holiday dinners, decorations, and presents.
The statistics found out that “According to statistics from 14 nations, Lebanese households are the third most affected by the difference between family income and holiday prices, spending 207 percent of their monthly income and 17 percent of their yearly income on the festive season.” Rwanda comes on first, followed by Cameroon, where people spend 708 and 410 percent of their monthly income, respectively. The Philippines, on the other hand, spends 257 percent of their monthly income on vacations. The Christmas season in the area begins in September and lasts until January, increasing the strain on many families in terms of basic birth costs and preventing them from spending the holiday in countries such as the Philippines without transfers.”
Statistics revealed that “More than 244 million individuals are classed as expatriates and live in nations such as the United States of America (14.4 percent of the total population), the United Kingdom (9 percent), Australia (30 percent), and Canada (21.5 percent ). For example, of the 14 nations analyzed, it was discovered that these countries get remittances in total, and that ten of them spend more than half of their family’s monthly income over the holiday season. The Christmas season would be unthinkable without remittances, and the season of giving becomes even more important because the world’s major money-sending markets usually spend less than 3% of their yearly income over the holidays.”