This year, the average American will spend $650 on gifts, as part of the country's projected $470 billion of shopping between Thanksgiving and New Year's -- a new record. But which U.S. metro areas have the most to spend? A new index Richard Florida developed with his colleagues at the Martin Prosperity Institute includes three measures of regional productivity and wealth: median household income, per capita income and average wages and salaries. By his calculations,  Washington, D.C., tops the list, followed by San Jose, and Bridgeport-Stamford, Connecticut.

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Read the full story at The Atlantic Cities.

And read more in our series on the intersection of Christmas and economics:

Is Christmas Bad for the Economy?

The 12 Days of Christmas? That'll Cost You a Record $101,119.84

The Behavioral Economist's Guide to Buying Presents

Christmas Gift-Giving by Country (or: Why Are the Dutch So Stingy?)