Valentine’s Day is coming, and like every year people make a section to celebrate their partners or friends. Inflation will affect gift budgets, so some think not to celebrate this date and others are ready with reservations and presents.
In the United States and Mexico, this date is celebrated in an important waybut given the differences in the economies of both countries the budgets are different.
Valentine’s Day in the USA
A survey by the money transfer company WorldRemit indicates that Americans plan to spend $192.80 on average ($3,500 Mexican pesos) per person to celebrate your loved ones on the day of love and friendship.
In the country, 58 million pounds of chocolate will be consumed, and 36 million will be heart-shaped; Around 145 million cards will be exchanged and the flowers they give away will most likely come from Colombia.
According to the survey, more than 25% of people will adjust their budgets to deal with inflationallocating less money to entertainment expenses, such as visits to the cinema, theater or restaurants.
For this date, men spend approximately $11.4 billion ($212.7 billion pesos) while women allocate $7.8 billion dollars ($145 billion pesos).
Pets are also celebrated in the United States, where around 50% of households have at least one pet, so a spending of $1,000 million dollars ($18,600 million pesos) in gifts for them.
The WorldRemit survey found that 35% of consumers will shop online, 34% in department stores, 31% in discount stores, and 18% in small businesses.
Valentine’s Day in Mexico
In Mexico, a HelloSafe survey found that 60% of Mexicans do not plan to celebrate Valentine’s Day and 40% will.
Of those who will not celebrate, 60% said they were not interested; 26% answered that inflation has impacted their economy and 14% indicated that they have no budget to celebrate.
Only 17% of Mexicans who do celebrate plan something special for this February 14 and 2 out of 10 prefer to celebrate at home.
Regarding the budget to celebrate, 40% said they will spend less than $500 pesos (about $27 dollars); 36% stated that their budget will be from $500 to $1,000 pesos ($53.5 dollars); and between 10 and 14% will spend between $1,000 pesos and $2,000 pesos ($107 dollars)respectively.
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