Portuguese plan to spend €338 this Christmas

Portuguese people are planning to spend on average €338 this Christmas, according to a study by financial consultants Deloitte.

Over half of the money (53%) will be spent on presents, while 34% will be used to buy food and drinks and 13% on social events.

Compared to last year, the sum is down €21.

But according to Pedro Miguel Silva from Deloitte, the confidence consumers feel about their spending power and economic situation has improved “very favourably”.

In fact, he says Portugal is the most “optimistic” out of all the countries where the study was carried out.

He adds that the general feeling among Europeans is that the economy is going to improve, except in Greece where the opinion is bleaker.

The study was based on answers provided by over 8,000 people in 10 European countries, 762 of which from Portugal.