It appears delivery drivers (and Santa Claus) will be hauling sleds full of presents to homes in the Austin area this holiday season.
A new study by the WalletHub personal finance website ranks Cedar Park 73rd in the country for cities with the largest vacation budgets. Austin ranks 99th. WalletHub estimates that Cedar Park consumers will spend an average of $ 1,472 on vacation spending this year, while Austinites will spend $ 1,259.
Austin ranks # 99 among the five largest cities in Texas. It is followed by Fort Worth (# 306, $ 718); San Antonio (No. 394, $ 600); Dallas (No. 399, USD 596); and Houston (No. 436, $ 565).
Five factors were used to make budget estimates for each city: income, age, savings-to-spending ratio, income to spending ratio, and debt to income ratio.
Overall, Flower Mound in DFW has the second largest vacation budget in the country ($ 2,973). Only Palo Alto, California had a higher amount ($ 3,056) among the 570 US cities included in the study.
Aside from Flower Mound, five cities in Dallas-Fort Worth appear in WalletHub’s top 100:
Richardson, No. 36, $ 2,002
Frisco, No. 53, $ 1,684
Apartment, No. 59, $ 1,594
Carrollton, No. 71, $ 1,492
North Richland Hills, # 95, $ 1,303
Four cities in the Houston area are in the top 100, with two in the top 10:
The Woodlands, No. 6, $ 2,729
Sugar Land, No. 7, $ 2,728
League City, No. 15, $ 2,501
Missouri City, No. 98, $ 1,264
Americans predict they will spend an average of $ 805 on Christmas gifts this year, which is well below last year’s estimate of $ 942, according to a recent Gallup poll.
The outlook for US retail sales this year is muted due to the recession caused by the pandemic. Consulting giant Deloitte is forecasting a moderate increase from 1 percent to 1.5 percent. The commercial real estate service provider CBRE assumes that this value will be below 2 percent.
“The lower forecast holiday growth this season is not surprising given the economic situation. While high unemployment and economic fears will weigh on total retail sales this holiday season, lower spending on pandemic-sensitive services like restaurants and travel can help prop up retail sales, “said Daniel Bachman, US economist for Deloitte, in a press release .