Valentine's Day: Loved-up Britain to Spend £595m on Romantic Gifts

Loved-up Londoners will account for the biggest bulk of Britain's total Valentine's Day spend in 2014, with the whole of Scotland stumping up only a small percentage.

According to a nationwide survey commissioned by AskHerFriends.com, which interviewed over 2,000 people, Britain is set to spend £595m (£718m, €969m) this year on Valentine's Day, up by £12m in 2013.

London will contribute an estimated £116m, or a fifth of the total cash parted from lovers' wallets.

Elsewhere, Scotland will fork out less than half that of the English capital city at just over £51m.

The biggest non-spenders this year will be married couples, while over a third of those surveyed not spending any money on gifts at all.

"There is of course a plethora of macro-economic data, but there is nothing geared towards Valentine's Day - an important shopping day - but isn't as widely celebrated as Christmas," said Ben Blomerley, Founder of AskHerFriends.com and former Ernst & Young accountant.

"We have seen a steady rise in the number of customers using our site, which is in line with consumer confidence, so we are well placed to comment on Valentine's Day gift spending.

"We wanted to understand how the UK consumers celebrate Valentine's Day and how that compared or contrasted with last year's data. If the current levels of consumer confidence continue then we can expected a further rise in the annual Cupid Economic Index (Cupex) in 2015."

Cupex takes into account UK inflation, population rise, and the weighted average spend of UK consumers, to keep track of year-on-year Valentine's Day spending.