Christmas is normally a time for celebration for many. However, there may be little left to celebrate given the current set of circumstances.
The festive season is with us. To say that the Christmas season is full of cheer and celebration would be an understatement. Many if not all of us look forward to this season as it gives us a reason to sit back, unwind, and more importantly, spend time with our families. It is the opportune time to take a break from the hassles of work. Deadlines and work targets take a back seat, just for a moment. That said, despite the promise that this season brings, it has been evident that this year’s celebrations have been toned down, and the mood has been a tard gloomier.
The Christmas season normally sees increased spending even as many take the time to spend time with their families, which necessitates an uptake in foodstuff and other household goods. Furthermore, sectors such as transport and tourism also benefit greatly since much of the working population, particularly in the urban areas, utilize the free time accorded to them through the holidays to travel upcountry and visit their families. All in all, the Christmas season brings with it good reason to be optimistic, by not only being a season of good cheer but also through increased financial spending.
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About Christmas 2023
However, this Christmas could not have come at a worse time. Many Kenyans continue to feel the pinch of the harsh economic standing of their country. Despite assurance from the country’s leaders that the current economic situation is only temporary, the reality seems to be more dire even as the economy continues to slump with each passing day. It is thus unsurprising that many Kenyans have been forced to cut back on their spending; even as the cost of living goes beyond the roof. Therefore, even as Christmas came along, many chose to maintain their thrifty habits perhaps in preparation for rainier days ahead.
According to a survey done by World Remit, global Christmas spending for 2023 was expected to increase by up to 24 percent as compared to 2022, with the increase attributed to an increase in the prices of basic food commodities. A quick survey across most retail outlets continues to reveal that many of these essential commodities remain out of reach for many. Consequently, Christmas celebrations have taken a backseat, as they are deemed as being non-essential, especially for those who are currently struggling to eke out a living. When asked whether they will be celebrating Christmas this year, many particularly in the lower-income demographic answered that they could not afford to do so.
A Tough Christmas
The past three years have been a tumultuous time for many across the world. The pandemic in 2020 brought with it its own set of challenges on a global level. The world was forced to adapt to a new normal, many lost their jobs and the work environment changed (working from home was now massively adopted globally). In the years that have followed, global peace and order have been destabilized by various internationalized conflicts in Ukraine and Israel-Palestine. Due to the interconnected nature of our globalized world, international trade and politics have been affected directly by these events, leading to a collective decline in economic growth globally.
Kenya has had its fair share of domestic problems that have also adversely affected its economy. The chickens have come to roost and the country is succumbing to the years of gross economic mismanagement. Furthermore, the current government, perhaps succumbing to the pressure of its external lenders has been finding ways to expand its income bracket by raising taxes on the already overburdened population.
Nonetheless, there is reason to be optimistic about the future despite the current struggles. It is not all doom and gloom. Even as the curtains draw upon the festive season, let us find reason to trust in a much better year in 2024.
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