Several Countries Spend More than 50% Their Monthly Income on Christmas

Six countries observed - Mexico, Lebanon, Philippines, Cameroon, Nigeria, Rwanda - spend 100% or more of monthly income on Christmas

The holiday season is here! Around the world, families are making plans to celebrate the season with unique traditions, once-a-year meals, gifts and more. 

In line with this exciting time, WorldRemit conducted a multi-country study1 to determine the true cost of Christmas in 14 countries, mining data to showcase the average costs of the traditional Christmas meals, decorations and gifts. 

WorldRemit compared five developed economies in the study - the USA, UK, France, Australia and Canada - and found the cost of Christmas per household is the highest in Canada, averaging US Dollar $1,688.74 / Canadian Dollar $2,110.92, or more than half (54%) of the total monthly income for the majority of Canadian households.

Of the 14 countries observed, data showed Rwandans are most impacted by the disparity between average household income and holiday costs, spending 708% of their monthly income and nearly 60% of their annual income on the holiday. 

Meanwhile, Filipinos spend 257% of their monthly income on the holiday. In the region, Christmas celebrations begin in September and extend into January, making it challenging for many families to afford the basic costs of Christmas. Without remittances into countries like the Philippines, celebrating Christmas would be near impossible. 

More than 244 million people are classified as immigrants around the world and account for large percentages of populations in countries like the United States (14.4% of total population)2, UK (9%)3, Australia (30%)4 and Canada (21.5%)5.

All figures are US Dollar $

United Kingdom

• Average Annual Income: $35,835

• Average Monthly Income: $2,986

• Average Household Size: 3.86

• Average Total Holiday Costs: $778.95

• Percentage of Monthly Income: 26.08%

United States

• Average Annual Income: $55,419

• Average Monthly Income: $4,618.26

• Average Household Size: 3.84

• Average Total Holiday Costs: $858.71

• Percentage of Monthly Income: 26.08%

Canada

• Average Annual Income: $35,835

• Average Monthly Income: $3,152

• Average Household Size: 3.57

• Average Total Holiday Costs: $1,688.74

• Percentage of Monthly Income: 53.57%

Australia

• Average Annual Income: $42,151

• Average Monthly Income: $3,512

• Average Household Size: 3.86

• Average Total Holiday Costs: $932.40

• Percentage of Monthly Income: 26.54%

France

• Average Annual Income: $40,917

• Average Monthly Income: $3,409

• Average Household Size: 3.84

• Average Total Holiday Costs: $1,478.56

• Percentage of Monthly Income: 43.36%.

In these countries where average household incomes are amongst the highest in the world, immigrants and overseas foreign workers are often working to support themselves whilst also supporting their families and communities back home.

Christmas is one of the primary reasons immigrants and migrants send money back to their home country. Because of the high cost of coveted seasonal items, food, and the overall impact COVID has had on supply chain and inflation, it is vital for remittance senders to be able to support those dearest to them by helping make Christmas a reality for their loved ones6. 

For the nearly 250 million people who live in different countries than their families, ensuring loved ones can properly celebrate the nostalgic and important time is often top of mind.

As such, planning for the holiday season can take months of financial preparation and the collective effort of family, both in home countries and abroad, to bring the season to life. 

To learn more about the study and see full results, visit: https://www.worldremit.com/en/cost-of-christmas.  

Notes to Editors: 

Methodology

In the study, WorldRemit looked at the following 14 countries and researched basic Christmas Costs - including the main holiday meal, average gift spend and decorations.

1. United States of America

2. United Kingdom

3. Canada

4. Australia

5. France

6. Philippines

7. Mexico

8. India

9. Kenya

10. Lebanon

11. Rwanda

12. Cameroon

13. Nigeria

14. Uganda

The Christmas items were selected based on desk research of typical Christmas meals, gifts and decorations. We then researched the average price of each item for an average family on an average income. The prices were researched online in late October 2021 - November 2021. Prices and breakdowns of what is appropriate for Christmas celebrations in each country were then shared with locals of that country who we hired to validate the data as correct. 

The exchange rate from the local currency was calculated on Monday 5 November. The percentage figures are percentages of the overall budget in the local currency.

Sources

1. WorldRemit. Cost of Christmas (2021 - Quarter 4)

2. United Nations, Department of Economic and Social Affairs, Population Division (2015). Trends in International Migrant Stock: The 2015 Revision. (United Nations database, POP/DB/MIG/Stock/Rev.2015).

3.  UK Parliament, House of Commons Library: Migration Statistics (2021, Quarter 2).

4. Australian Bureau of Statistics: Migration, Australia  (2021, Quarter 2). 

5. Statista: Immigration in Canada: Statistics & facts (2021, Quarter 3).

6. The Economist. Wiring home for Christmas: remittances and the Philippines (2020, Quarter 4).

Press Enquiries

About WorldRemit

We are a leading global payments company and, along with Sendwave, part of Zepz, a group powering two global remittance brands. 

We disrupted an industry previously dominated by offline legacy players by taking international money transfers online – making them safer, faster and lower cost. We currently operate in more than 5,000 money transfer corridors worldwide and as part of Zepz, are part of a 1,400 person global workforce.

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About Zepz

Zepz Group is the group powering leading global remittance brands: WorldRemit and Sendwave. Since 2021, Zepz Group has been disrupting an industry previously dominated by offline legacy players by reducing the barriers to finance and increasing safety and convenience for users. Every day, Zepz Group and its brands work towards unlocking the prosperity of cross-border communities through finance and technology - driven by the vision of a world that celebrates migrants’ impact on prosperity, at home and abroad.

Zepz Group brands have helped cross-border communities send over $15bn from 50 countries, to recipients in 130 countries in 2022, and operate over 5,000 money transfer corridors worldwide. Zepz Group employs over 1,400 people globally as a remote-first employer, with team members located across six continents.