Getting in touch with research from ING revealing Aussie singles are heavily invested when it comes to love, splurging $42.8bn a year on dating – an increase of $31.1 billion since 2017.
Despite the recent uncertainties around the cost of living (from affordable housing to $12 iceberg lettuce) – Aussies’ dating lives are continuing to thrive. The rapid adoption of dating apps is the number one factor contributing to the surge in dating costs, with Aussies now spending half a billion a year finding ‘the one’ online, an increase from $80.7m a year in 2017.
What were the insights of ING’s research?
Additional key research findings include:
- Aussies spend an average of $154.16 on a first date: including $66.53 getting ready. New clothes (41%), hair services (25%) and shoes (18%) topping the list of popular expenses.
- Women want to split bills, but men are still paying more: women most likely to want to split bills or pay their way on a first date (76%) however 45% of men still expect to foot the bill. Men having an average budget of $101.38, compared to $74.44 for women.
- App-daters are the biggest spenders: Aussies who are paying for dating apps are likely to spend big on first dates, an average budget of $208.33, over $50 more than average.
- Millennials are most likely to splash the cash: with an average first-date cost of $178.05, closely followed by $174.10 for Gen X and just $131.75 for Gen Z.
- Men are investing more in date preparation: men admit to spending slightly more money preparing for dates than women ($69.53 vs. $63.64) with gifts for their date, contraception and dental work topping the list of must-purchase items