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Russians spending more on romantic gifts over last three years, MasterCard reports

Dining out romantically is on the rise as well

© Yuri Smityuk/TASS

MOSCOW, February 14. /TASS/. Russians have started spending more on gifts as St Valentine's Day approaches. In particular, over $146 mln had been shelled out on romantic gifts last year, or $25 mln (21%) more than in 2017, MasterCard reported in its research.

A similar trend has been observed across the globe, with the number of transactions within the period from February 11-14 climbing 31%.

Another worldwide trend highlighted in the research is that traditional flowers and jewelry for St. Valentine's Day are gradually substituted by gift impressions. In particular, romantic trips in Russia grew by 19% since 2017, the research noted. Russians shelled out over $60 mln on air tickets and tours last year.

Hotel stays remain among the most popular for St. Valentine’s Day. Russians started booking hotel suites more often over the last three years. Bookings climbed 59% and booking expenses rose 18%.

Dining out romantically is on the rise as well. Transactions in Russian restaurants surged by 47% since 2017, while expenses grew by 26% to $43.8 mln in 2019.

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Furthermore, Russians started spending more for Valentine's Day cards, with outlays on these items surging 39% since 2017.

This study is carried by MasterCard annually in more than 50 countries around the globe and relies on the analysis of credit, debit and prepaid card payments made on the verge of and during the holiday.

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