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Economy

As the Pandemic Casts Its Shadow, Diwali Spending Not Expected to Fully Recover in 2021

While in 2020, around 54% of Indians said that they would spend less on festivities than the year before, the number has reduced this year to 31%.

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According to a reoccurring survey by YouGov, Diwali spending is recovering in 2021 compared with the pandemic year 2020 – but not fully.

While in 2019, Diwali was still a fast-growing business – with 43% of Indians saying they were planning to spend more on it, that number was at 29% this year after having reached a low of 17% in 2020. The biggest group of Indians – 31% – was actually saying they were planning to spend less on the festivities, down from 54% in 2020. A new high of 28% said they wanted to spend the same amount as last year.

YouGov, which carried out the survey last in August 2021, also calculated a Diwali spending index, which rose to almost 91 points for urban Indians (out of 100 points which signal average spending). In 2020, the index had only read 81 points.

Infographic: Diwali Spending Not Expected to Fully Recover in 2021 | Statista

This piece was first published on Statista. Read the original here