This archive report was first published on 23 December 2019.
Christmas is just around the corner, but for many Kenyans, the festive season is shaping up to be a bleak one. According to a survey conducted by Trends for Insight Africa, a staggering 60% of respondents reported that their financial situation has worsened compared to the same period last year.
Published on December 23, 2019, the survey revealed that 11% of Kenyans will not be spending anything during Christmas, while 42% expect to spend significantly less than they did in 2018.
Regional disparities were also evident, with respondents in the Eastern part of Kenya reporting the highest proportion of worsening financial situations. In contrast, 33% of those in the Rift Valley and 29% in Nairobi felt that their household finances had improved compared to 2018.
On average, Kenyans are expected to spend around Ksh.4,348 over Christmas on travel, accommodation, food, and stipends to their parents and extended family members.
The survey also shed light on the pressing issues contributing to the cash crunch. A significant 35% of respondents blamed rampant corruption, while 27% attributed it to rising unemployment. 24% cited the high cost of living, and 6% pointed to poverty as the primary cause.
