Valentine’s Day: Southeast Asians are spending more

Photo via inquirer.net

By Jason Thomas/theaseanpost.com – Southeast Asians are spending more on Valentine’s Day, with new research confirming that the most romantic day of the year is becoming increasingly commercialised.

The 2019 Mastercard Love Index released yesterday reveals that Asia Pacific leads the world when it comes to growth in sentimental spending for Valentine’s Day. Compared to 2016, Asians spent 33 percent more on their loved one in 2018 – with the overall number of transactions up by 37 percent. In contrast, sentimental spending in the United States dropped by eight percent during the same period.

Now in its fourth year, the annual study was created by specifically analysing credit, debit and prepaid card transactions from 11-14 February over a three-year period (2016-2018). The report defined sentimental spending as all spending on restaurants, hotels, transportation, jewellery, books, records and stationery during the four-day span.

Sentimental spending has increased across the board in the four Southeast Asian countries in the study; Malaysia, the Philippines, Singapore and Thailand. It rose the most in the Philippines (48 percent), followed by Singapore (28 percent), Thailand (25 percent) and Malaysia (23 percent).

Specific trends in spending

Seen as an opportunity to cash in on the public’s infatuation with Valentine’s Day, retailers are constantly creating innovative promotions to attract couples in order to stand out in an increasingly competitive market. Due to increased demand, prices for Valentine’s Day gifts such as roses and chocolates are double or triple during the period – with lovebirds paying a premium to profess their love for one another on this special day.

FULL STORY

Find more like this: News

  • U.N. Rights Council to Investigate Killings in Philippine Drug War
  • Philippines declares national alert after 456 die from dengue fever
  • Trying to save the stories of a Philippine culture, one scan at a time
  • Pinoy archaeologist brings new human species discovery to Australia
  • Philippines a slowly ageing society – PIDS study
  • Page 1 | 2 | 3 | 4 | 5 | 6 | 7

    Entertainment

  • Nickelodeon releases first look at rebooted classic kids program Blue’s Clues with Filipino-American host Joshua Dela Cruz
  • How Marvel’s first featured Pinoy superhero can save society
  • This play tells the urgent story of a Filipino comfort woman
  • Will ‘Sahaya’ be the first Pinoy series on Netflix?
  • Z-GIRLS, Z-BOYS with Pinoy members to debut in Korea
  • MORE...

    Features

  • My story, and the new story of Filipino immigration
  • An appreciation of Moro food can bring Pinoy Muslims and Christians closer, says this Muslim chef
  • Showcase of PH culture, heritage
  • US and Philippines: Friends, Partners, and Allies
  • A Transgender Paradox, and Platform, in the Philippines
  • MORE...

    Tourism

  • Northern Blossom Flower Farm: Atok’s floral carpet
  • Philippines records ‘all-time high’ 7.1M tourist arrivals in 2018
  • Philippines island Boracay reopens for test run following huge cleanup
  • Philippines closes ‘cesspool’ tourist island of Boracay
  • Boracay Set to Ban Tourists for Six Months During Island ‘Rehabilitation’
  • MORE...

    Sports

  • Filipino speed skater bags spot in 2020 Winter Youth Olympics
  • Pinoy gymnast Carlo Yulo earns historic qualification in worlds
  • Finding a way to bring the NBA to the Philippines
  • First Filipino table tennis Olympian Ian “Yanyan” Lariba dies at 23
  • Skateboarder Margielyn Didal wins 4th gold for Philippines
  • MORE...

    OFW News

  • Filipino maids’ dragon boat team makes splash in Hong Kong
  • DOLE suspends OFW deployment to Kuwait
  • Some OFWs turn to vlogging to beat loneliness, share life abroad
  • Overseas Filipino Bank to serve immigrants, workers
  • The ‘bagong bayani’ of the Philippines
  • MORE...

    Environment

  • ‘Sordid Chapter’ Ends As Philippines Sends Back Canada’s Trash
  • Southeast Asia became dumping ground for plastic waste – study
  • Boracay Set to Ban Tourists for Six Months During Island ‘Rehabilitation’
  • Boracay: the good, bad and ugly sides to Philippine island for tourists
  • Luzon has greatest concentration of unique mammals
  • MORE...

    Pinoy Places
    and Faces