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A whole lotta love: Aussies set to spend $1.1 billion this Valentine’s Day


They say you can't put a price on love, but Australians are tipped to spend big this Valentine's Day, according to new research by Finder.

A new Finder survey of 1,004 respondents has revealed that 1 in 3 Australians (34%) intend to spoil their loved one on 14 February, forking out $178 each on average at a national cost of $1.1 billion.

Aussies will spend almost $427 million on dining out, followed by $381 million on presents. Flowers ($110 million) and chocolates ($76 million) will also round out the list of Valentine's Day expenses.

In true COVID-19 style, the research also found that Aussies will spend around $127 million on dining in.

Kate Browne, personal finance expert at Finder, said that Valentine's Day has become big business in Australia.

"Aussies are now spending over a billion dollars on this Hallmark holiday, splashing out on everything from flowers to restaurants.

"The pandemic has also changed the way many of us are planning to celebrate – if you'd prefer to stay home, there are plenty of quarantine-friendly date night ideas to try, from meal deliveries to virtual wine tasting," Browne said.

Men are expected to spend the most on their significant others, forking out around $210 each on average, compared to just $134 for women.

Millennials are the most generous lovers, spending around $238 on average compared to just $104 for Baby Boomers.

The research also found that around 39% of Australians are in a relationship but don't celebrate Valentine's Day, while the remaining 28% are single.

Browne urged Australians not to blow the budget this February.

"You can still create a romantic evening without your bank account taking a hit.

"Something as simple as going for a romantic walk or having a backyard picnic is meaningful yet affordable.

"There are countless ways you can show your partner that you care without having to spend up big," Browne said.

How do you plan on celebrating Valentine's Day this year?
My partner and I don't celebrate Valentine's Day39%
Treating my partner with dinner, gifts etc34%
I don't have a partner and don't plan on celebrating28%

Source: Finder survey of 1,004 Australians in January 2021

How much do you spend on Valentine's Day for your partner?
Dining out$64.60
Dining in (at home)$19.30

Source: Finder survey of 1,004 Australians in January 2021

Affordable ways to celebrate this Valentine's Day:

  • Go for a picnic. Pack a bag with your favourite deli snacks and a bottle of wine and head outdoors for a romantic meal.
  • Have breakfast in bed. This will be cheaper than heading to your local cafe – and you get to stay in your pyjamas.
  • Netflix and chill. Ditch the cinemas in favour of a wallet-friendly movie night at home.

Visit Finder's Valentine's Day hub for gift ideas and things to do this February.

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