Grandparents to spend £140 on grandchildren this Christmas

Generous grandparents are set to spend £4.3 billion on presents for grandchildren this Christmas according to the latest findings from over 50s experts SunLife.

SunLife’s research reveals that grandparents are planning to spend £140 on each grandchild this Christmas – which, despite the cost-of-living crisis, is £14 more than last year – and with an average of 4 grandkids each, that’s an average spend of £518.

In the UK, there are around 7.6 million grandparent households that celebrate Christmas, which means generous grans and grandads are planning on spending a total of £4.3bn on their grandkids this year, up from £3.8bn in 2022.

Grandparents in London are the most generous – they are planning on spending more than £200 on each grandchild this Christmas, which, with an average of four, means a total spend of £808 – two and a half times as much as grandparents in Northern Ireland are planning on spending.