Swiss consumers are set to splash out an average 343 Swiss francs ($367) on Christmas presents this year, a record high even though 62% of people questioned would like to reduce spending, a survey published on Monday showed.
"Unemployment in Switzerland is low and the Swiss market is proving stable, with companies' enjoying full order books. In addition, the first signs of a reduction in inflation can be seen," said André Bieri, Swiss markets leader at audit and consulting group EY, which conducted the survey of 400 adults.
Gift vouchers and money topped the list of gift categories this year, surpassing last year's favourites clothing and cosmetics. Toys, food and confectionery, books, event tickets and jewellery were also popular, the survey found.
($1 = 0.9349 Swiss francs) (Reporting by Michael Shields; Editing by Simon Cameron-Moore)