Not... exactly. The holiday celebrates a very old tradition of gift giving, charity, feasting and family specifically. The tale of Santa Claus or Saint Nicholas is nothing more than a myth that originated from a mixture of religious figures and pagan gods. Primarily a well known Bishop from Greece in the fourth century known as Saint Nicholas of Myra. He was very charitable and gave gifts freely to the poor -- including young children. Some believe he may represent a God named Odin from Norse Mythology, primarily the way 'Santa Claus' is viewed now originated in the Netherlands, Belgium and France. In my world Christianity is a religion that influenced a great deal of how this holiday is perceived and celebrated.

Most believe it is the day of a religious figure's birth though this has been disputed because of the winter solstice occurring around the same time. Almost every country on my world has its traditions but most are only native to the one that invented them. For over two hundred years the holiday was banned in my country but it was later lifted about fifty years before I was born- so the tradition of having a Christmas tree, presents and a feast had come back full force.

Personally I do not much care for the holiday but others seem to enjoy it.