Balearic families ready to spend big this Christmas

Palma.— Over three quarters of Balearic residents will wait until after Christmas to finish their Christmas shopping.
What could be seen as somehow unusual, comes with a reasonable explanation: most families prefer to wait for the January sales in order to save money.
Nonetheless, local families are expected to spend on average 333 euros in presents this Christmas, the highest budget in all of Spain’s regions and 58 euros above the national average.
According to a report revealed yesterday by a Christmas shopping savings website, 92, 6 percent of local families will buy their food for the holiday season first in order to control their budget.
Each household in the Balearics is expected to spend a total of 253 euros in food this Christmas - 34 euros per person- 15 euros less than the national average. But the bulk of the budget is set to be spent on presents for family and friends.
Despite the economical recession, 44 percent admitted they will be spending between 100 and 200 euros on gifts, and another 44 percent over 200 euros.
Over half of local residents confirmed they will be spending around the same amount of money during the holiday season as last year.