The City With the Most to Spend on Christmas? It's Washington, D.C.
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.
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?)