Millennials are splurging Dh936 on average dates, a new study by Bank of Montreal (BMO) has found, sparking concerns about the rising costs of modern dating and the impact on relationships.
What's driving the 'date-flation' trend?
The study, which surveyed over 1,000 millennials in the UAE, found that the average cost of a date has increased by 15% in the past year, with the majority of respondents citing the high cost of dining out and entertainment as the main reasons for the increase.
According to the study, the top five most expensive dates in the UAE are:
- Dining out at a high-end restaurant (Dh250)
- Attending a concert or show (Dh200)
- Going on a weekend getaway (Dh1,500)
- Trying a new hobby or activity (Dh150)
- Going to a sporting event (Dh100)
The study's findings have sparked a lively debate on social media, with many millennials weighing in on the trend and sharing their own experiences of 'date-flation'.
'I've noticed that my friends and I are spending more and more on dates, and it's getting to the point where it's becoming unsustainable,' said one respondent.
'I've had to cut back on my dating budget and focus on more low-key activities, like going for a walk or having a picnic in the park.'
What does this mean for relationships?
The rising costs of modern dating have raised concerns about the impact on relationships, with some experts warning that the pressure to spend money on dates can create unrealistic expectations and lead to financial stress.
'When people feel like they need to spend a lot of money on dates, it can create a sense of obligation and pressure, which can be damaging to relationships,' said Dr. Sarah Al-Mansoori, a relationship therapist based in Abu Dhabi.
'It's essential to remember that relationships are about more than just the money you spend on dates. It's about the time and effort you put into getting to know each other and building a connection.'
What can be done to address 'date-flation'?
So, what can be done to address the rising costs of modern dating and the impact on relationships?
According to the study, the majority of respondents suggested that couples should focus on more low-key activities, like going for a walk or having a picnic in the park, rather than splurging on expensive dates.
'I think it's essential to find activities that are affordable and enjoyable for both partners,' said one respondent.
'It's not about the money you spend, but about the time and effort you put into getting to know each other.'
In conclusion, the rising costs of modern dating have raised concerns about the impact on relationships, with some experts warning that the pressure to spend money on dates can create unrealistic expectations and lead to financial stress.
However, with a little creativity and effort, couples can find ways to enjoy each other's company without breaking the bank.
