Romanians would like a higher salary or resources to invest and travel for Christmas, according to a recent study commissioned by Revolut.

Last year, most Romanian respondents to a similar study (48%) said they would spend less than EUR 250 for Christmas gifts, and 6% of respondents in this market said they would not spend at all. 43% expected to spend between EUR 250-1,000 and 3% even over EUR 1,000. This year, among the respondents surveyed by Revolut in Romania, 28% plan to buy gifts for a total of EUR 100-200, 27% want to spend approximately EUR 50-100, 20% between EUR 200-500, and 2% do not intend to buy any gifts at all this year. 8% wish to spend less than EUR 50. 

By comparison, Santa has a budget ranging from EUR 200 to EUR 500 in France (35%), Spain (29%) and Italy (29%). In Eastern European countries, budgets between EUR 200-500 shrink in Hungary (14%), Latvia 13%), Poland and Lithuania (18%).

If one financial dream were to come true for Christmas, Romanians have mainly two desires: to get a higher salary (24%) and to learn how to grow their money through saving and investing (24%). Repayment of their loans got 21% of the responses. Thirdly, Romanians would like ”to be offered” a lower inflation (13%).

48% of surveyed Romanians believe that nowadays, luxury is having enough resources to travel everywhere all year long. 

The budget for travel allocated between January and November 2023 increased by 67% to over RON 1.8 billion, according to Revolut data. An average Romanian Revolut customer spent over RON 934 per month on travel, compared to RON 876 per month (January 1 - November 30, 2023 vs. January 1 - November 30, 2022).

The study also shows that Romanians tend not to return gifts. In the survey, 5% of respondents in Romania admitted that the gifts they receive are almost always returned because they are not suitable. 5% might have returned gifts in the past, but in general, they avoid doing this because it is embarrassing. 29% do not return them as they enjoy every gift, and 41% choose to accept what they receive. Finally, 20% have no dilemmas as their loved ones know their preferences and choose gifts well.

Gifts are returned most often in Singapore (8%), Spain (6%) and Australia (5%), mainly among recipients in the 25-34 age group (5%). Italians are the most embarrassed when it comes to giving back a gift (22%). 

For 40% of the Romanians, time is a luxury - having more time for yourself and your loved ones comes second. Personal wealth assets such as big houses, expensive cars, or boats (32%) are in third place. 

Revolut, the global financial super app with over 3.3 million customers in Romania, asked 14,000 people in 14 countries, including 1,000 in Romania, about their dream presents and their Christmas budget this year. The study was commissioned to Dynata 1.

radu@romania-insider.com

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