End of the Noughties Looking Nice?

Last Updated Dec 8, 2009 8:06 PM EST

We've seen lots of speculation that Australia may have ducked the worst of the global economic crisis, but the proof will really be in the Christmas pudding.

According to a forecast from business analysts IBISWorld, Australian companies are expected to spend over $560 million on Christmas celebrations this year (that's an increase of 76 percent over 2008).

The number of company Scrooges is expected to shrink as well, with 92 percent of businesses predicted to be hosting a holiday bash (only 67 percent did last year).

Not only will there be more parties, but companies are looking to make them more lavish as well --- while the average spent per employee was $75 in 2008, this year that figure is expected to reach $105 per employee. Merry Christmas!