Buying gifts for everyone can get expensive. That's why it might be a good idea to find a way around it that is still fun for everyone.
When you throw a Christmas party, set up a little workshop with all sorts of materials and tools. Make a little work class on making homemade presents. It can be a fun activity for your guests and everyone will save some money on buying expensive store-bought presents. Besides, it's always more heartwarming when you get something that someone made himself.
Tell your guests that they are going to be Santa's little elfs for an hour and let the creative ideas flow.
In case you are a skilled craftsman, you can also throw in a short lesson on some basics (painting, woodwork, carving etc.). This is actually a good idea in any case, since some people might feel a little lost. To avoid that you can also learn how to make a few things beforehand and then give a step-by-step process on how it's made. This way the people that got a little craftsmanship in them will still be able to create freely and the rest won't feel incompetent.
At the end everyone gifts each other and everyone is happy:)