Spending by office workers this month on winter clothes and other cold-weather items, as well as holiday dining, gifts and festivities, is estimated to reach nearly NT$100 billion (US$3.03 billion), according to a survey released on Tuesday by online job bank yes123.
The survey — conducted from Dec. 8 to Friday last week — asked 1,500 office workers about their anticipated economic activities for the month, from which the expected consumption level of the nation’s 8,839,000 employees was extrapolated.
The average amount of expected spending on winter clothing or other items for cold weather was NT$4,139, lower than last year’s NT$6,600, but still expected to boost consumer spending by NT$36.58 billion, the survey showed.
When asked about plans for Christmas and New Year’s Eve, 72 percent of respondents said they plan to dine out, it said.
Of those who said they plan to eat in restaurants, 34 percent said they would eat in American-style establishments, while 31 percent said they are likely to go to European restaurants, the survey said.
The average budget for holiday dining was NT$2,439, higher than last year’s NT$1,700 and expected to bring NT$15.52 billion in revenue to the restaurant industry, it said.
Respondents who said they would shop for Christmas or New Year gifts said they expect to spend an average of NT$3,340 per item, a projected total business revenue of NT$20.96 billion, the survey showed.
As for New Year’s plans, 68 percent said they have plans to celebrate New Year’s Eve with an average budget of NT$3,718 — a decline from last year’s NT$4,076 — with dining out, watching fireworks displays, dining in and domestic travel being the most favored activities, it said.
National spending for New Year’s plans is estimated at NT$22.41 billion, the survey said.
The decline in winter-related spending this year is probably related to relatively warm weather this year, while increased spending on dining and shopping are likely the result of Christmas falling on a Friday, when people are more likely to consume, yes123 spokesperson Yang Tsung-pin (楊宗斌) said.
However, consumer spending on New Year’s Eve festivities was scaled back by 8 percent this year compared with spending last year, suggesting that the overall economy is still exerting some negative effects, Yang said.
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