With Britons waking up this morning full of festive cheer, gloomy research has revealed Christmas is bankrupting Lapland.
Quenching the insatiable appetite of the world’s children is costing the country (rein) dear.
This year Lapland is projected to run up operating losses of £8.4bn.
The big problem, according to business-to-business comparison site Expert Market, is the soaring cost of producing gifts for kids all over the planet. Present costs have rocketed from £9.83bn last year to £13.3bn this year.
Lapland has managed to generate over £5bn of income over the year, with image rights netting Santa’s homeland £3.6bn. Studding Rudolf and the other reindeers bring in £206.3m.
Other than the present costs, Lapland’s biggest cost is paying the wages of Father Christmas’ 3,000-strong workforce, something that will cost £91m this year.
Sophia Patsikas who carried out the audit into the business said: “Any other business would be in administration, but somehow Lapland Inc keep delivering year after year. It’s like magic.”
Lapland black hole
|What?||How Much?||What?||How Much?|
|Reindeer Upkeep||£17,862||Image Rights||£3.6bn|
|Sleigh Maintenance||£823||Surplus Cookies & Milk Sales||£28.3m|
|Sleigh Insurance||£9,311||Recycles Christmas Lists||£247,612|
|Elf Wages||£91m||Lapland Winter Tourism||£1.2bn|
|Elf Pensions / Insurance||£18m||Studding Reindeer||£206.3m|
|Cost of Toy Manufacture||£13.3bn||Airbnb Spare Rooms||£456,832|
|Lapland Annual Average Cost of Basic Living||£17,310|
|Mrs Claus (CEO of Lapland Inc)||£85,154|
|TOTAL EXPENSES||£13,409,132,260||TOTAL INCOME||£5,018,233,784|