July 4th Spending is Higher in the Northeast
Whatever your plans for the 4th of July, travel and fireworks are part of many celebrations, including here in Acadiana and across the Gulf Coast. According to an annual survey by Visa, Fourth of July spending will be up 58%. This year, the Visa survey found that respondents planned to spend significantly more at $300. In 2012, respondents planned to spend an average of $190 on the Fourth of July holiday whether they were traveling or staying at home.
Here’s the breakdown by region:
• Northeasterners will spend an average of $454.
• Southerners will spend an average of $339.
• Westerners will spend an average of $206.
• Midwesterners will spend an average of $195.
Over 40% of Americans plan to buy fireworks, spending an average of $28. Spending on fireworks also varied geographically. Midwesterners and Southerners love their fireworks twice as much as Northeasterners and Westerners. In the South and Midwest they are planning to spend $35 and $36 respectively. In the Northeast and West, with more legal restrictions and limited access, respondents plan to spend less than half that amount at $17. Men are going all out, planning to spend over twice what women plan to spend on fireworks, $39 versus $18.
Americans celebrating the Fourth at home are planning to spend $169 while the 10% of celebrating respondents taking overnight trips away from home plan to spend an average of $1,161.
Are you buying fireworks this year?