A recent study by European fintech company Blackcatcard in collaboration with international data analytics group YouGov reveals that consumers in Malta are among the biggest holiday spenders in Europe. As the 2024 Christmas season approaches, the study explores how much Maltese shoppers plan to spend on gifts and when they are likely to complete their holiday shopping, placing Malta at the top of the European rankings in terms of both planning and expenditure.
Christmas spending: Malta leads Europe
Maltese consumers are set to spend an average of €331 on Christmas gifts this year, one of the highest figures in Europe, pared only by France (€330). This places Malta significantly above the European average, reflecting a strong tradition of generous gifting during the holiday season.
An important portion of Maltese shoppers (39%) plan to spend between €250 and €499 on gifts, showcasing their inclination towards more elaborate holiday presents. Additionally, 4% of Maltese consumers expect to spend more than €1,000 on Christmas shopping, highlighting the significant investment many are prepared to make for their loved ones. This number is higher than in Germany (3%) and France (2%).
Early Christmas shopping: Malta plans ahead
In addition to generous spending, Maltese shoppers are also well-organised regarding their holiday preparations. A considerable 16% of Maltese consumers aim to finish their Christmas shopping by November, aligning closely with early shoppers in Italy and Spain. Meanwhile, 36% of Maltese shoppers plan to complete their holiday purchases by early December, placing them ahead of many European counterparts in terms of planning.
In contrast, countries like Estonia, Lithuania, and Portugal tend to leave their shopping until the last minute, with a significant portion of shoppers completing their holiday gift buying just days before Christmas. The data from Malta suggests a cultural trend towards avoiding the December rush and being well-prepared for the holiday season.
European comparisons
While Maltese consumers rank among the top in spending and early planning, other European nations present more diverse approaches. Greece and Latvia, for example, report more modest budgets, with average planned spending below €200. Countries like Germany and Italy find themselves in the middle range, with average holiday budgets between €200 and €300.
Malta’s combination of high spending and early shopping habits positions the country as one of Europe’s leaders in holiday preparation, emphasising the importance of Christmas in Maltese culture.
Survey methodology
The findings in this press release are based on a survey conducted by Blackcatcard in collaboration with YouGov. The survey was conducted online from September 17 to 19, 2024, and included approximately 500 respondents per country, for a total of over 5,500 participants across Estonia, France, Germany, Greece, Italy, Latvia, Lithuania, Malta, Poland, Portugal, and Spain. The sample was representative of the adult population in each country by age, gender, and region, and included responses from individuals who celebrate Christmas.
About Blackcatcard
Blackcatcard, powered by Papaya Ltd., is a European fintech brand. It provides financial services for individuals and corporate customers, such as mobile and online banking with a personal European IBAN account, virtual and plastic payment cards, free intrabank money transfers, SEPA payments, cashback and bonuses*, and an integrated сrypto exchange** with custodial crypto wallets.
Papaya Ltd. is a fintech institution registered and headquartered in Malta. Registration number C55146. You can get more information about terms and conditions on the website blackcatcard.com. *The bonus payment is a part of the loyalty program provided by Baltic Technology Solutions OU. Detailed terms and conditions can be found here. **An integrated custodial crypto wallet and the crypto exchange are provided by the partner Manerio UAB. Find more information at maner.io.
About YouGov
YouGov is an international online research data and analytics technology group. Our mission is to offer unparalleled insight into what the world thinks. Our innovative solutions help the world’s most recognised brands, media owners and agencies to plan, activate and track their marketing activities better. With operations in the UK, the Americas, Europe, the Middle East, India and Asia Pacific, we have one of the world’s largest research networks. At the core of our platform is an ever-growing source of consumer data that has been amassed over our twenty years of operation. We call it Living Data. All of our products and services draw upon this detailed understanding of our 27 million registered panel members to deliver accurate, actionable consumer insights. As innovators and pioneers of online market research, we have a strong reputation as a trusted source of accurate data and insights. Testament to this, YouGov data is regularly referenced by the global press, and we are the most quoted market research source in the world.
