LOCAL

But with New Year fast approaching, the festive spirit is already stirring among Russians and guests alike. It's high time to choose our presents and plan our celebrations.

Traditionally, most Russians prefer to greet the New Year at home - whether it's their own or their friend's house that hosts the big occasion. Younger people are more likely to go out, but even then relatively few Russians would plan to mark the holiday in a club or a restaurant. Average prices start at 7,000 rubles, with the most exclusive nightclubs charging up to 150,000 rubles for a table for eight. With these costs more bloated than a reveler's waistline its little surprise that most people prefer to gather elsewhere, maybe joining the crowds in Red Square or at Vorobyovy Gori to watch the fireworks together.

But New Year can't do without presents. Like Santa Claus filling stockings, a key part of the Russian New Year is the search for ‘treasures under the fir tree' after Grandfather Frost (Ded Moroz) has left his gifts. Among the most popular New Year gifts for family and friends are souvenirs, sweets and alcohol. Many want to treat their friends to perfumes and cosmetics; others prefer a more practical gift - clothes and shoes. Photo and video cameras, mobile phones and household appliances are less popular, despite big discounts in many stores. And according to one opinion poll 16 per cent of Russians don't intend to spend money on New Year gifts at all.

That Scrooge-like mentality is far from the norm, however. For most Russians the holiday period is a time to be at home with loved ones, sharing presents, watching the President's midnight speech, eating Olivier salad and sipping champagne. Crisis or no crisis, this is how most of us will choose to greet 2009.

By Daria Chernyshova