How Much Will We Spend on Valentine's Day?

The National Retail Foundation reports that men will spend twice as much as women

Valentine's Day may not be for everyone, but it does bring the economy a lot of money. The National Retail Foundation reports that this Valentine's Day, the country will spend a total of $17.6 billion for the romantic holiday, or $126 per person on average.

The average male is going to shell out $168.74, about twice what a woman will spend.

 Half of the revelers will be buying candy (spending a total of $1 billion), and about 35 percent will treat someone to a night out (spending a total of $3.5 billion). For the latter, we recommend dinner, drinks, and dancing.

Total spending is up 10 percent from last year, and is the highest it's been in 10 years.

As for who people will be spending money on, the report says we'll be spending an average of $74 on spouses or significant others, $25 on other family memebers, $7 for friends, and $4.50 on pets. So little Fido gets a treat, too.

Click here for our best and worst Valentine's Day chocolates.

The Daily Byte is a regular column dedicated to covering interesting food news and trends across the country. Click here for previous columns.