News | Sunday, 21 December 2008

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The credit crunch that stole Christmas

Has Gonzi put out the lights this Christmas?

James Debono
Perhaps you have not noticed but this Christmas the streets are somewhat darker: fewer people are switching on the lights to decorate their windows.
The Maltese have also spent less on Christmas presents and fewer intend celebrating New Year’s Eve in a restaurant or hotel. This emerges from a MaltaToday survey held in the first week of December among 300 respondents, which gives a clear indication that the global credit crunch, coupled with the hike in utility tariffs, has dampened the Christmas spirit.
The survey shows that the hike in electricity tariffs has taken its toll on the festive atmosphere as the number of people who decorate their windows with Christmas lights has dropped by 13%. While last year 53% decorated their windows with Christmas lights, this year 61% won’t switch any Christmas lights making this a season to be more eco-friendly, but definitely less merry.
Significantly 31% have spent less on Christmas presents than last year. Only 13.3% have spent more while 56% have spent as much as last year.
Significantly middle-income earners are among those who have spent less on gifts. In fact 40% of those in the clerical and vocational occupational group have spent less than last year. They are only surpassed by unskilled workers and the unemployed, among which 45% have spent less than they did last year.
Neither did higher-income groups compensate for this drop in spending. In fact most respondents in managerial and professional posts have spent as much as last year while 26% have spent less.
Pensioners are the least affected when it comes to spending on gifts, with 19% saying that they have spent more while only 17% saying that they have spent less.
This could well be an indication that among the elderly, generosity has triumphed over the global recession.
When questioned in the beginning of the month, most respondents intended to spend Christmas Eve and Christmas day at home as they did last year. A remarkable 62% spends Christmas day at home.
Only 5.3% will be having Christmas lunch in a hotel or restaurant – a 2% drop from last year. On New Year’s Eve the number of those celebrating in a restaurant could drop by 9%. 26% of those who last year celebrated the New Year in a restaurant or hotel, intend to stay at home or at a friend’s or relative’s home.
Christmas still has a religious significance for a significant number of respondents. In fact 22% will be attending mass on Christmas eve, even if only 9% of those aged between 18 to 34 will do so.
Although the vast majority still send Christmas cards, the number of those sending Christmas cards is decreasing. While 73% claim to have sent Christmas cards in the past, only 64% will be doing so this year. Yet this could also be an indication of a declining tradition as more people send their greetings by email.

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