Survey: Two thirds of Czechs to cut back on Christmas spending this year

Two thirds of Czechs are planning to spend less this Christmas than they did last year, suggests a survey carried out by the Ipsos agency in November. Most people cited rising living costs as the reason for cutting back on Christmas expenses.

A fifth of those canvassed said they will reduce spending on sweets, decorations and Christmas gifts to the bare minimum and almost 90 percent of people plan to buy fewer or the same number of presents as last year.

The survey also suggests that almost five percent of people are considering borrowing money for presents this year.