From watching the lights turn on in your local town centre to tucking into a roast dinner, there’s nothing quite like Christmas in the UK. Finder surveyed Brits to find out how much Christmas spending will impact their bank accounts this year.
The average person in the UK plans to spend £596 on Christmas presents in 2024, according to Finder research. 9 in 10 Brits (90%) plan to buy Christmas gifts for their loved ones, while the remaining 10% either don’t celebrate or plan not to spend money on presents.
In 2022, the average spend per person dropped from £548 to £430 amidst the cost of living crisis. However, spending has remained high both this year and last year, showing that splurging on presents at Christmas time is still important for Brits.
| Year | Planned average spend on gifts |
|---|---|
| 2024 | £596 |
| 2023 | £602 |
| 2022 | £430 |
| 2021 | £548 |
| 2020 | £476 |
| 2019 | £513 |
The UK as a whole plans to spend £28.6 billion on Christmas gifts in 2024, up from a planned spend of £27.6 billion in 2023, an increase of £1 billion (4%). After dropping in 2022 during the cost of living crisis, projected Christmas spending has now increased for 2 years in a row.
| Year | Projected total UK spend on gifts |
|---|---|
| 2024 | £28.6 billion |
| 2023 | £27.6 billion |
| 2022 | £20.1 billion |
| 2021 | £25.6 billion |
| 2020 | £24.3 billion |
| 2019 | £26.9 billion |
Overall, it’s projected that Brits will spend £46.4 billion during the Christmas period, including gifts, food, travel and more. This means an average spend of £923 per person!
Millennials (aged 28-43) are planning to go all out with gifts this Christmas, with an average spend of £871 each. The silent generation (age 79+) is also planning to be generous this year – with a planned average spend of £825 each.
Generation Z (aged 18-27) are planning to spend slightly less at £605 each, while generation X (aged 44-59) intend on being more frugal and spending £487.
At the bottom of the list, baby boomers (aged 60-78) are trying to save on gift-giving this Christmas, with an average spend of just £371 each.
| Generation | Planned average spend on gifts |
|---|---|
| Generation Z (18-27) | £605 |
| Millennials (28-43) | £871 |
| Generation X (44-59) | £487 |
| Baby Boomers (60-78) | £371 |
| Silent Generation (79+) | £825 |
People in London are planning to spend the most of all UK regions in 2024, with an estimated average of £936 per person. They are followed by people in Northern Ireland, who are planning to spend around £850 per person, and people in Wales, who are planning to spend £740 per person.
Meanwhile, residents in the East Midlands are hoping to be a bit more restrained with their gift-giving, with an average planned spend of £396 per person, £200 less than the national average.
| Region | Planned average spend on gifts |
|---|---|
| Greater London | £936 |
| Northern Ireland | £850 |
| Wales | £740 |
| West Midlands | £645 |
| North East | £618 |
| Scotland | £579 |
| North West | £529 |
| Yorkshire and The Humber | £499 |
| East of England | £495 |
| South East | £484 |
| South West | £477 |
| East Midlands | £396 |
Matt Mckenna
UK Head of Communications
T: +44 20 8191 8806
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