Parents spending average of €1,000 on Holy Communion celebrations

A survey carried out by Ulster Bank has found that parents spend an average of €1,000 on First Holy Communion celebrations.

Meanwhile, children making their communion receive an average of €468 in cash gifts from family and friends - half of which they tend to save.

Almost 60,000 children made their Communion this year, placing €27.9m worth of purchasing power in the hands of young communicants, who have a combined estimated €13.3m in savings accounts or piggy banks.

Children in Dublin receive the most money followed by those in Munster, then Connacht and Ulster.

Aunts and uncles are the most generous, giving almost a third of all the money received.

Bouncy castles are the number one entertainment choice, hired by almost 40% of parents, while a fifth of parents hired a professional photographer.

Commenting on the findings, Jim Ryan, managing director, Republic of Ireland branch banking, private banking and advice at Ulster Bank, said: “The First Holy Communion has become one of the main family celebrations in the life of a child each year in Ireland.

“Therefore, it’s not surprising to see parents investing significantly in the day. Interestingly, it is also the first time that many children receive a large amount of money, so it’s encouraging to see that with children saving almost half of what they receive the ‘savings culture’ is imbedded in people’s minds from an early age.”