Valentine’s Day: Malaysian men spend more

Malaysian men are willing to splurge more on Valentine’s Day.

Valentine’s Day falls today.

A survey by Mastercard revealed men forked out an average of RM830 compared to RM600 by women.

The survey of 401 Malaysian Mastercard users found that an average of RM730 were spent on buying gift.

It found that Malaysians take Valentine’s Day seriously, with almost two-thirds planning to get a  gift for their partner.

Along with Taiwanese, Malaysians are joint fourth-biggest spenders in Asia-Pacific, behind  Hong Kong RM1,005, China RM989, dan Singapore RM782.

The Mastercard Love Index analysed aggregated transaction information made through credit, debit and pre-paid cards across preselected categories over a three-year period from Feb 11 to Feb 14 from 2013.

The survey showed that MasterCard users in the region spent more money on ‘experiences’ rather than on ‘things’ during Valentine’s Day.

It said 36 per cent of money spent on Valentine’s Day were on hotels, with 24 per cent at restaurants.

In total, Valentine’s Day spending in Asia Pacific was up 23 per cent from 2013 to 2015, according to the survey. However, jewellery made up 14 per cent Valentine’s Day expenditure. –