Center for Public Opinion at UVM Publishes Report on Annual Bonus Spending in Mexico
The latest study by the Center for Public Opinion at Universidad del Valle de México analyzed on how Mexicans spend their annual bonus. Survey responses were collected online from 531 recipients. The survey revealed that 9 out of 10 Mexicans with a formal job receive a bonus and on average put 30 percent into savings. Savings and debt repayment were found to be the top uses of the bonus money, with younger workers dedicating more to travel and vacation than their older peers.
On average, 29 percent of the bonus money was put towards debt repayment and 48 percent of those receiving bonuses reported to spend less than a third on savings due to their focus on paying off previously acquired debts. Mexicans between 36 and 45 years old were more likely than those under 25 to spend the largest percentage of their bonus on savings and debt repayment.
The holiday season seems to significantly boost spending, with the results showing on average that a quarter of the bonus goes to shopping, with very similar percentages among the different age groups and between men and women. Contrary to the study’s original hypothesis, men and women were found to distribute their bonus similarly.
On average, a fifth of the annual bonus amount is used to take vacations. Young people spend a higher percentage of their bonus on vacation, 27 percent, while adults between 35 and 45 spend only 19 percent.