60% of Kenyans feel poorer this Christmas, research

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Many Kenyans are not aware that they have unclaimed assets./COURTESY

In Kenya, Christmas is one of biggest holidays with shoppers spending their time and money on the festivities by making plans to travel or spend time with their loved ones.

According to a research conducted by research company TIFA, more than 60 percent of Kenyans feel like their current household’s financial status is worse compared to 2018.

According to the report, 11 percent of Kenyans feel nothing has changed 21 percent feel things have gotten better while  9 percent say they do not know how they feel.

According to the research, majority of those who felt things had gotten worse are those in the Eastern region while 33 percent of those in Rift valley and 29 percent of those in Nairobi feel that their household’s financial situation is better.

The report also shows that 42 percent of Kenyans will spend less this Christmas as compared to the same period last year.

On average, Kenyans will spend about (ksh 4,343) over Christmas on travel, accommodation, food stuff, parents and extended family members.

The highest expenditure expectation is recorded in north eastern (sh.7, 879) followed by eastern with (sh5, 491).

Unemployment, corruption and high cost of living are the key issues facing Kenyans as they proceed to Christmas festive season.

When probed on the single most pressing problem, corruption was mentioned as the highest with 35 percent.

The research was conducted the 17-22 of December across a sample frame of 765 respondents of both genders.

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