As already mentioned, haphazard gift-giving during major global events can become a major headache for compliance teams. These are just some of the key dates when generosity is expected to soar around the world in 2024:
Lunar New Year – February 10th, 2024: Celebrated by two billion people in China and other Asian countries, Lunar New Year (also known as Chinese New Year or Spring Festival) is an important occasion for corporate gift-giving. This bodes for clients and employees alike. Given that gifts should uphold prosperity and indicate good fortune, proper etiquette is essential.
Holi – March 24th, 2024: Also known as the festival of colours, Holi is predominantly celebrated on the Indian subcontinent and marks the arrival of spring. Gifts are commonly exchanged during Holi, also in corporate circles.
Eid al-Fitr – April 9th, 2024: The end of the holy month of Ramadan is a time of great celebration for Muslims around the world and many companies use the opportunity for corporate gift-giving.
Chuseok – 16 September 2024 – Meaning “Autumn Eve” in Korean, Chuseok is a three-day long harvest festival where gifts are exchanged between close friends, co-workers and business partners.
Diwali – November 1st, 2024: The 5-day festival of lights is India’s biggest and most important holiday. Gifts are typically exchanged on the third day of Diwali but it is also common to do so in the days leading up to the festival.
Ochūgen & Oseibo – July & December 2024: Twice a year in summer and winter in Japan, gifts are exchanged between friends, relatives and co-workers. There are rules around gift-giving on these two occasions, and compliance teams should be aware of them to avoid embarrassment.
Christmas, Hannukah & The Holiday Season – December 2024: Whether its Sinterklaas, Christmas or the Jewish holiday of Hannukah, the holiday season is one of the biggest gift-giving occasions of the year across the world.