Valentine’s Day: ‘Hallmark Holiday’ or Economic Boon?

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Christmas dwarfs all other holidays in terms of economic impact. Image Credit: michael ely

Valentine’s Day Compared to Other Holidays

As mentioned above, Christmas is the Holy Grail of major holidays, with $469 billion spent in 2011 alone, and 2012’s figure estimated to have been 2% higher. However, significant amounts are spent on other major holidays as well.

Halloween, for example, sees $5 billion in candy and costumes purchased each and every year. Easter enjoys about $14 billion in expenditures, just a shade below that which is spent on Valentine’s Day. And although both are individually below Valentine’s Day, the combined tallies of Mother’s and Father’s Days reach $27 billion dollars every year.

Holiday Spending

Combined with Valentine’s Day, the above-mentioned holidays represented 3.5% of U.S. GDP in 2012. As referenced above, the Christopher Marlow quote applies with respect to major holidays and their economic and social relevance: Money can’t buy love, but it improves your bargaining positionMost of us would certainly attest to the validity of that quote on February 14th.

Resources

Brainy Quote. Valentine’s Day Quotes(2012). Accessed on February 9, 2013.

History. Valentine’s Day(2012). Accessed on February 9, 2013.

Sabin, Kira. Valentine’s Day 2012: Americans Spend More on Valentine’s Day Than Halloween(2012). Huffington Post. Accessed on February 9, 2013.

Borkowski, John. Online Search Industry Valued at $17 Billion; Google Leads(2012). WebiMax. Accessed on February 9, 2013.

Wooeb. India pharmaceutical market $17 billion in 2012. (2013). Accessed on February 9, 2013.

Szalai, Georg. U.S. Video Game Industry Sales Fell 8% in 2011 to $17 Billion(2012). The Hollywood Reporter. Accessed on February 9, 2013.

Wood, Laura. Research and Markets: 2012 Report on the $17 Billion U.S. Motorcycle Dealers Industry(2013). Business Wire. Accessed on February 9, 2013.

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