Ugandans spend 80% of their monthly income on Christmas costs: World Remit Study.

The holiday season is here! Around the world, families are making plans to celebrate the season with unique traditions, once-a-year meals, gifts and more.

In line with this exciting time, WorldRemit conducted a multi-country study1 to determine the true cost of Christmas in 14 countries, mining data to showcase the average costs of traditional Christmas meals, decorations and gifts.

Uganda:

The study indicated to that while several Countries Spend More than 50% Their Monthly Income on Christmas, majority of Ugandan households spend 80% of monthly income on Christmas costs

Other countries:

Of the 14 countries observed, data showed Rwandans are most impacted by the disparity between average household income and holiday costs, spending 708% of their monthly income and nearly 60% of their annual income on the holiday. Meanwhile, Ugandans spend 80% of their monthly income on festive costs.

The findings of the study show that Filipinos spend 257% of their monthly income on the holiday. In the region, Christmas celebrations begin in September and extend into January, making it challenging for many families to afford the basic costs of Christmas. Without remittances into countries like the Philippines, celebrating Christmas would be near impossible.

More than 244 million people are classified as immigrants around the world and account for large percentages of populations in countries like the United States (14.4% of total population)2, UK (9%)3, Australia (30%)4 and Canada (21.5%)5.

Christmas remittances:

During the holidays, immigrants and overseas foreign workers are often unable to celebrate with their families in-person, and find themselves working to support not only themselves, but also their families and communities back home.

Christmas is one of the primary reasons immigrants and migrants send money back to their home country. Because of the high cost of coveted seasonal items, food, and the overall impact COVID has had on supply chain and inflation, it is vital for remittance senders to be able to support those dearest to them by helping make Christmas a reality for their loved ones.

Giving example of the 14 countries observed, it states that typically they receive remittances, 10 spent more than 50% of their monthly household income on the holiday. A holiday that would be impossible without remittances, the season of giving becomes vital, where the world’s largest send markets typically only spend less than 3% of their annual income on the holiday.

World Remit background:

WorldRemit is a global payments company and, along with Sendwave, part of Zepz, a group powering two global payments brands.

We disrupted an industry previously dominated by offline legacy players by taking international money transfers online - making them safer, faster and lowerholiday

They currently send from 50 countries to recipients in 130 countries, operate in more than 5,000 money transfer corridors worldwide and employ over 1,200 people globally.

On the sending side WorldRemit is 100% digital (cashless), increasing convenience and enhancing security. For those receiving money, the company offers a wide range of options including bank deposit, cash collection, mobile airtime top-up and mobile money.

Backed by Accel, TCV and Leapfrog – WorldRemit’s headquarters are in London, United Kingdom with regional offices in the United States, Poland, Canada, Australia, Hong Kong, Singapore, Malaysia, the Philippines, South Africa, Somaliland, Uganda, Kenya, Rwanda, Tanzania, Zimbabwe and Belgium.

Christmas: Uganda version:

Christmas in Uganda is a time of being with family and having a special meal. Father Christmas is not really known but they do get carol singers. People wear their best clothes and children will often get new clothes. There are lots of Christmas markets. Gifts are not as important although food may be given, especially to people in need.

Decorations are important and the seasonal colours are red and green. There are Christmas trees and lots of colourful beads. We decided to try to make a beaded Christmas tree decoration.