Spending at European holiday markets has risen by an average of 15% per year since 2022. Visa expects this upward trend to continue through the end of the 2025 holiday season.
With festive decorations and bright adornments, wooden chalets and the smell of mulled wine, Europe’s holiday markets draw millions of visitors each winter.
People go to enjoy the atmosphere, meet friends, and spend on food, drinks and gifts. Some visitors are drawn to high-adrenaline attractions such as giant Ferris wheels or the thrilling Starflyer ride.
For many cities, Christmas markets are not just about tradition but also about growing visitor spending and tourism, which help boost the local economy.
Across 20 European holiday markets, visitor spending has increased by an average of 15% per year since 2022 according to Visa’s latest analysis. In practical terms, this means that if visitors spent €100 in 2022, the figure rose to about €115 in 2023 and €133 in 2024.
Spending in 2025 has also increased compared with the period before the Christmas season. This upward trend is expected to continue through the end of the 2025 festive season according to Visa.
If the average annual growth of 15% holds, €100 spent in 2022 would reach about €152 by 2025. This marks a total increase of 52% over three years.
So, which European cities have seen the biggest increases in holiday market spending?
Frankfurt and Cologne saw the highest growth
According to Visa, two German cities, Frankfurt and Cologne, recorded the highest average growth in winter market spending, at 45% and 35% respectively.
In practical terms, if visitors spent €100 in Frankfurt in 2022, this rose to €145 in 2023 and reached €210 in 2024. These figures reflect compound annual growth (CAGR) in spending over the period.
Strasbourg (30%) and Krakow (25%) followed them. Munich, Budapest and Copenhagen also recorded strong growth, each with a 20% increase.
Lille (15%), Nuremberg (15%) and Basel (10%) completed the top 10 for average spending growth at Christmas markets.
“Our data shows that these events increasingly drive significant cross-border spending and support local businesses during a critical period,” Claudio di Nella, head of Visa consulting and analytics Europe, told Euronews.
Visa expects this trend to continue
He noted that digital payments play a key role in this success, giving visitors a secure, convenient way to shop, whether they are visiting a market just around the corner or making a trip further afield.
“As consumers seek authentic, memorable experiences wherever they are, markets across Europe are seeing record engagement, and we expect this trend to continue this year and beyond.” Claudio di Nella added.
In terms of transaction volumes, Visa found that Prague, Krakow and Budapest were among the most popular Christmas markets, attracting tens of thousands of visitors each day throughout November and December.
When it comes to international visitors, Strasbourg recorded the strongest year-on-year increase at just over 45%, followed by Lille at nearly 40% and Frankfurt at close to 35%
Which cities are included?
Visa’s analysis includes 20 cities from 14 countries. The festive markets analysed were Basel, Bratislava, Bruges, Brussels, Budapest, Cologne, Copenhagen, Edinburgh, Gothenburg, Frankfurt, Krakow, Lille, Munich, Nuremberg, Prague, Riga, Stockholm, Strasbourg, Tallinn and Vienna.
Seasonal job postings rise ahead of Christmas
Holiday markets also create seasonal job opportunities, with hiring rising sharply during the festive period.
According to hiring platform Indeed, searches for Christmas market and seasonal roles in the UK reached their highest level in early October 2025, the strongest since records began in 2018.
Seasonal job postings usually make up less than 0.3% of all postings on Indeed in the UK. However, this share often rises above 1% in the run-up to Christmas markets.
Christmas job opportunities also increase significantly during the festive season in many European countries.
