SINGAPORE - Some 85 per cent of Singaporeans plan to keep their Christmas spending at the same level as last year, a survey has found.
Commissioned by United Overseas Bank and conducted by Acorn Marketing and Research Consultants, the study surveyed 500 people aged between 25 and 55 years with a monthly income of at least $2,500.
It was conducted from Nov 6 to 18.
Only one in 10 respondents said they were looking to increase their gift budget this year.
The average budget for Christmas gifts this year is $580.
Some 73 per cent of respondents intend to keep within their budget and 18 per cent said they would extend their budget by looking for promotions and discounts.
A tenth of respondents would save up during the year to have enough money to enjoy the festive season with family and friends, the survey found.
Singaporeans are sparing no expense to buy gifts for themselves, and are likely to spend nearly $500 on their ideal gift.
Only 26 per cent of respondents plan to give their parents a gift this year at Christmas.
In contrast, 51 per cent intend to give their friends a present and 48 per cent to their children.