New Year’s Eve is the largest holiday of the year in Russia, bigger than Christmas or Easter. It is on the New Year’s Eve that Russians give presents to each other, rather than on Christmas day, which is celebrated by Orthodox Christians on 7 January (put this date in your calendar!).
How much money do Russians plan to spend on celebrations?
Recent research by WCIOM shows historical trends in spending plans. The year when the country was hit with giant inflation (2014) devalued the currency and thus the amounts people used to spend grew, but they were able to purchase less goods and services than before.
In 2018 people on average plan to spend less than USD 200 on festivities for the largest holiday of the year. The highest ever spending in recent times was planned in 2013, just one year before the giant drop in the USD to ruble exchange rates ($253). Last year people got close to this amount again at $246 in plans for festivities, but in 2018 they suddenly became more frugal with their money.
Pension reform that is set to hit older Russians who planned to retire in the next 5 years but now will have to work for five years longer may be to blame for such a change in spending patterns. Not only Russian seniors worry about money but also their kids who habitually help their parents.
Budgeting for holidays
In total, citizens of Russia are planning to spend:
- $72 on presents to family and friends
- $63 on food and drinks for the festive table
- The same amount ($63) is budgeted for entertainment and travel during the holiday season.
80% of locals plan to spend the New Year’s Eve at home and 6% are going to someone else’s home for a get together. Dacha (a small countryside house) is the third popular option on the list, although only 6% of locals are going to be celebrating the New Year’s Eve there. 5% of respondents said they won’t be celebrating this holiday.
Only 1% of locals will go abroad for the New Year’s Eve. The same share of respondents will spend the night at a club or restaurant, or go away to a resort.
Data: WCIOM.ru
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