Expressions of love could be important for the economy
They say love and money don’t mix. But of course ‘they’ are wrong; love is big business, and never more so than on St Valentine’s Day.
February 14, which commemorates an obscure Roman saint’s bloody martyrdom, has become a celebration of love and romance around the world. All those roses and meals out for two represent a not insignificant element of consumer spending.
Dating website eharmony.co.uk estimates that Valentine-related spending added up to an estimated £1.9bn in the UK alone in 2015. Even today, men spend more women: £70.47 on average compared with £39.58 spent on average by the fair sex.
With an estimated 21 million roses – other flowers are available, people, show some imagination! – sold in the UK during the Valentine’s period, it’s easy to see why romance helps to keep the economy turning.
Nearly one in four Britons plan on going out for a meal on Valentine’s Day and 65%
Of course, if you have decided to splash out on a bottle of $1.2m Gout de Diamants (‘Taste of Diamonds’) champagne for your big night, you will be contributing more than your fair share to the Valentine’s economy
But it’s not just the obvious items that add up in the Valentine’s Day spend. O2 estimates that 11m more texts are sent on the 14th, compared with an average February day.
So be prepared to splash out this weekend – you may not only be keeping your other half sweet, but also helping to show some love to the UK’s economy!