According to Mastercard’s Love Index at pre-pandemic levels, overall transactions in the weeks up till Valentine’s Day rose by 31% over the past three years. And in 2021, despite staying indoors, spending was up 180% over in the recent decade.
Almost a global event, if not a festival, Valentine’s Day is the one day that excites those in love and those in business. Around this time every year, globally, phones are flooded with messages either from loved ones or from businesses trying to vie customers. While countries in North America celebrate the festival with red roses and candies, other countries have their own spin or take on this holiday. Despite the social distancing norms which are prevalent across the world, Valentine’s Day will perhaps see the most the celebrations this year, no matter how they celebrate it.
According to Mastercard’s Love Index at pre-pandemic levels, overall transactions in the weeks up till Valentine’s Day rose by 31% over the past three years. And in 2021, despite staying indoors, spending was up 180% over in the recent decade.
This indicates that romantics across world believe that all you need is love, to survive the pandemic and boost the global economy. The index also tracked a global trend of gifting non-traditional items such as candies and flowers, on the day had risen. Apart from the North Americans, several Europeans preferred takeaways and home-cooked meals but didn’t hesitate to take home-spa days to pamper themselves and their loved ones.
This article tracks how the rest of the world celebrates Valentine’s Day given apart from India.
China (Hong Kong)
Going by the statistics, Hong Kong men in the past have been reported to be the Asia’s biggest spenders. Asians love spending and sharing love during this season. At pre-pandemic levels, almost 72 % of Chinese people and 65 % Hong Kongers love spending on gifts. Going by the ease in restrictions and the plethora of discounts and offers online, reports suggest that the buying spree may reach pre-pandemic levels.
United States
Americans love expressing themselves and the National Retail Federation (NRF) revealed just how much Americans spent during the pandemic, which was more than $21 billion in 2021. Undoubtedly, this year too, they project that Americans will beat the blues of the pandemic to share their feelings for one another.
Despite the social distancing norms which are prevalent across the world, Valentine’s Day will perhaps see the most the celebrations this year, no matter how they celebrate it.
United Kingdom
A tradition dating back to the Victorian era, UK people celebrate this day with much fervour. From sending anonymous valentine cards or letter to romantic interests, they still believe in the age-old practice. Undoubtedly, the practice of gifting roses came from the UK, as it is considered favorite of Venus, the Roman goddess of love.
Rest of Europe
Overall Europe, according to Mastercard’s Love Index, Europe purchased over seven times the past decade. Russians spent the most on bouquets last year, which was followed countries like Sweden and the UK. Italians loosened their purse strings for jewelry, followed by Russians and Brits. Estonia and Finland, on 14 February, call it Friend’s Day ironically, to celebrate friendship and love at the same time.
Japan and South Korea
Unlike their Europeans, women in Japan and South Korea are known to make the first move on the day and engage in gifting. Men are known to receive gifts as a sign of affection through a homemade chocolate which is known as honmei-choco. However, in South Korea, single friends make merry by gathering and having noodles.
