I have no definite answer to this. But, listening to the tune, I've always thought it was a song written around the time of the holiday... not about the holiday. The lyrics suggest there was some question about whether Ramito had "sold out" to become an international star rather than a folk hero. This may have some connection to the New York show he took part in at the height of his career. I remember hearing about Christmas Parandas as a child. My father always said I was too young to participate in them. Parandas, in the US, are nearly non-existent but were once such a big part in remaining true to Boriquen roots on the 'mainland'. So an international star writing a song about his devotion to the island (around Christmas time) doesn't surprise me at all.

Ricky Martin(singer),Roberto Clemente(former baseball player), Jennifer Lopez & Marc Anthony are from puerto rican parents, J.J. Barrea(basketball player), Tito Trinidad(boxer), Miguel Cotto(boxer), Benicio del Toro(actor), Roseline Sanchez(actress), Chayanne(singer), Ednita Nazario(singer), Naya River is half puerto rican (actress"Glee") Sonia Sotomayor (Associate Justice of the Supreme Court)