In Austria the centuries-old tradition of selling sweet punch, gingerbread and delicate ornaments during Christmas has become a major business operation.
In Vienna, between three and 3.5 million visitors -- including 500,000 from abroad - are expected at the biggest market: the fairytale-like Wiener Adventzauber in front of the gothic spires of city hall.
And it is only one of about 20 major "Christkindlmaerkte" in the capital, with countless private ones strewn across town.
In total, revenues from the markets in Vienna alone will amount to about 60 million euros (90.5 million dollars) this year, according to the local economic chamber (WKW).
"As such, Christmas markets are a significant moneymaker for the Viennese economy," said WKW president Brigitte Jank.
And not just the individual stalls do good business, so does the tourism industry.
"There's an additional 500,000 or 700,000 overnight stays per year thanks to the Christmas markets," estimated Margit Hammerl, Wiener Adventzauber's project manager.
In Salzburg, the picturesque stalls were expected to draw about one million visitors and contribute to an additional 230,000 overnight stays between mid-November and late December, according to the organisers.
The Tyrolean town of Innsbruck, meanwhile, was due to receive between 800 and 1,000 buses full of Italian tourists over the weekend.
Vienna's Adventzauber, one of the biggest markets in Austria and consistently listed among the best in Europe, was actually developed as a tourism concept in 1986.