Why Christmas is observed?

Its historic significance is as a remembrance of the birth of Jesus, the Christ. In general practice it has been largely overshadowed, even among Christians, as a civil holiday characterized by the exchanging of gifts. Presumably this is loosely inspired by the gifts of the Magi which they presented to Jesus when they visited him. Their gifts were symbolic and they represented the understanding the Magi had of the position of the Christ in history and religion. There is no record that the Magi presented gifts to each other as well. This civil holiday is an important part of the year for many manufacturers and retailers in several countries.