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Swiss shoppers go on holiday spending-spree

Sixty per cent of Swiss shoppers said they spent more money on presents this year than in the past five years combined


Swiss shoppers have spent more money on Christmas presents in 2000 than during any year over the past decade. Experts attribute the upsurge in spending to a rebound in the nation's economy.

According to a survey conducted by the Swiss Public Opinion Institute, the Swiss spent SFr 2.5 billion ($1.5 billion) during the holiday gift-buying season this year. That works out to roughly SFr 420 ($253) per person.

Almost 60 per cent of those surveyed said they spent more money this Christmas than during the past five years combined.

As a result of the spending spree, store owners say they've had a bonanza year, especially in terms of luxury items.

One newspaper reported that stocks of the new Rolex Daytonna, valued at SFr 24,000 ($14,000), had run out at many stores around the country.

At the same time, turnover from the sales of electronic goods rose 10 per cent over last year's figures.

The study also shows that Swiss men spent more than women, with 6. 2 per cent of men spending at least SFr 1,000 compared to 3.7 per cent of women.

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