By Jane Tuv
Provided by WorldNow

‘Tis the season to be thrifty.

With the holidays closing in, Americans are scrambling for fresh gift ideas. The problem is--last year, the economy wasn't so bad and $50 bottle openers or $100 track suits seemed  like more reasonable gifts. But recently, the economy has taken a nosedive and so have our 401(k)s; thus, consumers are becoming more mindful of their spending habits, leaving little wallet room for luxury gift items.

Wine, however, is a staple downturn-economy gift because it provides a sense of stability and luxury and doesn't have to break the bank; many great wines go for under $40.  It has the added benefit of promoting the spirit of the holidays: love, merriment and harmony. Wine complements meals and completes conversations. Chances are your red ribbon-adorned bottle of vintage pinot noir or sauvignon blanc will be welcomed with open arms since Americans have taken a greater liking to wine in the last decade and a half. 

"We're in a bull market for wine in America. Per capita consumption has increased for 15 consecutive years," says Tyler Colman, publisher of award-winning wine blog, Dr.Vino.com and author of Wine Politics and A Year of Wine.  The number of wine retailers and wine bars has soared in the United States.  But if you're not familiar with your local wine shops, Costco and Sam's Club are your best bets. Costco ranks as America's top wine retailer, selling more than 75 million bottles of wine, according to The Wall Street Journal.

Colman points out that one big trend in recent years has been the rise in demand for dry rosé, a food- and wallet-friendly pink wine. Eric Arnold, author of First Big Crush: the Down and Dirty on Making Great Wine Down Under, recommends the Marqués de Cáceres Rosado 2007, an elegant dry rosé from Rioja, Spain, which has an average retail price of a mere $10.

Old-world wines, which include those from France, Italy, Germany and Spain, are a definite treat, especially when they come from premium regions such as Bordeaux, Burgundy and Piedmont. New-world wines--from America, Australia, New Zealand, Latin America and South Africa--however, are gaining in competition as they are just as delicious as their old-world counterparts but generally cost less. So if you don't have $5,000 to splurge on a Château Pétrus Pomerol 2005, opt for a Casa Lapostolle Cuvée Alexandre Merlot 2005 instead. A terrific investment, this $22 Chilean alternative exhibits old world-style elegance and is prime for cellaring, says Arthur Black, corporate director of fine wine education for National Wine and Spirits. With this wine, you're presenting a much pricier gift than you pay for because the longer it remains unopened, the more it will appreciate in value--serving as your rainy-day fund in a volatile economy.

While most holiday gifts serve one purpose, wine is versatile. Drink it, share it, age it, collect it. Wine invokes a union, adding balance to a dinner's potpourri of flavors and aromas while stimulating conversation and laughter. It speaks for us, dissolving our protective layers, letting us simply exist in the company of loved ones and in those moments we forget about the state of the economy, our mortgage payments and our to do-lists.

So if you have already planned to buy your significant other a lavish, expensive present, you might want to reconsider. The fruity 2001 vintage Trimbach Cuvée Frederic Emile Riesling and the full-bodied 2005 Jean-Louis Chave Selection Saint-Joseph Offerus are two winning, reasonably-priced gifts for the holidays. Both come from highly-regarded producers in France and cost under $40. To lift some shopping-decision weight off your back, look below for a full list of 10 gift-worthy wines on a $40 budget.*

WHITES

Allan Scott Sauvignon Blanc (2007)**
*Average retail price: $15
*Region: Marlborough, NZ
http://www.allanscott.com/  

Trimbach Cuvée Frederic Emile Riesling (2001)
*Average retail price: $39
*Region: Alsace, France
http://www.supercellars.com/  

Nora Albarino (2006)
*Average retail price: $16
*Region: Rias Baixas, Spain
http://www.internationalcellar.com/  

A to Z Chardonnay (2006)
*Average retail price: $16
*Region: Oregon, U.S.
http://www.atozwineworks.com/  

Esperto Pinot Grigio (2007)
*Average retail price: $15 
*Region: Veneto, Italy                        
http://www.wine.com/

REDS

Jean-Louis Chave Selection Saint-Joseph Offerus (2005)
*Average retail price: $29
*Region: Rhone, France
http://www.de-vino.com/  

Las Rocas de San Alejandro Garnacha, Vinas Viejas (2005)
*Average retail price: $17
*Region: Calatayud, Spain
http://www.whwc.com/  

Joseph Drouhin LaForet Pinot Noir (2005)
*Average retail price: $14
*Region: Burgundy, France
http://www.wine-searcher.com/  

Giacomo Conterno, Barbera d'Alba Cascina Francia (2005)
*Average retail price: $36
*Region:  Piedmont, Italy
http://www.vinquire.com/  

Casa Lapostolle Cuvée Alexandre Merlot (2005)
*Average retail price: $22
*Region: Rapel Valley, Chile
http://www.casalapostolle.com/

*The aforementioned wines were chosen by Eric Arnold, author of First Big Crush: the Down and Dirty on Making Great Wine Down Under; Tyler Colman, publisher of award-winning wine blog, Dr.Vino.com and author of Wine Politics and A Year of Wine; and Arthur Black, master sommelier candidate and corporate director of fine wine education for National Wine and Spirits.

*Eric Arnold worked at the Allan Scott winery from 2004-2005.