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Kenyans to spend less this year than they did in 2018

by biasharadigest

In 2019, Kenyans will have to dig deeper into their pockets to put the Christmas cheer on their faces and warm food on their table.

A just concluded survey released by the Trends for Insight Africa (TIFA), an African-based full market research company, painted a grim picture of Christmas in 2019.

60 percent of Kenyans who participated in the research revealed that their cash crunch is worse this year as compared to the same period last year.

A worrying 11 per cent of those, as a result of the tough economic times, will not be spending anything during christmas while 42 per cent said they would be spending way less than they did last year.

Respondents in the Eastern part of Kenya have the highest mentions of their pre-Christmas household financial status being worse than 2018.

33 per cent of those in Rift Valley and 29 per cent of those in Nairobi feel that their household financial situation has improved, compared to 2018.

According to the TIFA research, Kenyans will spend about Ksh.4,348 on average over Christmas on travel, accommodation, food stuff and stipends to their parents and extended family members.

The respondents in the research also laid out some of the most pressing problems this December vis-á-vis the same period last year.

35 per cent of the participants blamed the cash crunch on rampant corruption while 27 per cent blamed it on rising unemployment.

24 per cent of the respondents cast blame the crunch on the high cost of living while 6 per cent blamed their woes on poverty.

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