With Americans planning to collectively spend $7.5 billion on Fourth of July celebrations this year, the personal-finance website WalletHub has released its report on 2021’s Best & Worst Places for Fourth of July Celebrations, as well as accompanying videos, to go along with interesting stats about the holiday in its 4th of July Facts & Figures infographic and Coronavirus and 4th of July Survey.
To determine the best places to celebrate the most star-spangled occasion, WalletHub compared the 100 largest U.S. cities based on how well they balance holiday cost and fun. The data set of 23 key metrics ranges from average beer and wine prices to duration of fireworks shows to the Fourth of July weather forecast.
To view the full report, visit: https://wallethub.com/edu/best-4th-of-july-celebrations/4651
Best Cities to Celebrate Fourth of July: New York, NY was the top rated city, coming in at number one. San Francisco, CA was number two, followed by Chicago, IL; Minneapolis, MN; Atlanta, GA; Los Angeles, CA; Seattle, WA; Washington, DC; San Diego, CA; and St. Paul, MN rounding out the top ten.
Coming in at number 11 was New Orleans, LA; followed by Las Vegas, NV; Buffalo, NY; Orlando, FL; Omaha, NE; St. Louis, MO; Honolulu, HI; Milwaukee, WI; Dallas, TX; and, coming in at number 20, Philadelphia, PA.
4th of July Facts & Figures
• $7.5 Billion: Amount Americans plan to spend on 4th of July food.
• 150 Million: Number of hot dogs eaten each 4th of July.
• $1.4+ Billion: Amount Americans plan to spend on 4th of July beer and wine.
• 80%: Share of community fireworks displays that were canceled in 2020 due to the pandemic.
• $1.5+ Billion: Estimated amount spent on fireworks in 2020 (73% of fireworks injuries occur within a month of July 4).
• $6.7 Million: Value of American flags imported annually.
• 48 Million: Number of people who travel 50+ miles from home for the 4th of July.
To view the full infographic, visit: https://wallethub.com/blog/4th-of-july-facts/22075
Survey Key Findings
• Travel is picking up. 37% more Americans will travel this 4th of July compared to last year.
• Fireworks aren’t essential. 62% of Americans don’t think that local governments should use taxpayer dollars for fireworks displays this year.
• Declaring financial independence. 64% of Americans feel financially independent this 4th of July.
• Saving vs. spending. 62% of Americans believe saving money is more patriotic than spending it.
• More Independence Day spending. 36% of Americans are spending more money this 4th of July compared to last year.
For the complete survey results, visit:
https://wallethub.com/blog/coronavirus-and-4th-of-july-survey/75815
Q&A with WalletHub
Analyst Jill Gonzalez
Q: How has the reopening of the country impacted Americans’ plans for this 4th of July?
A; Around 36% of Americans plan to spend more money on the 4th of July this year compared to last year. That indicates that people are more likely to gather together for the holiday this year, whereas social distancing was the norm last year. While people were discouraged from traveling last year for the 4th of July, 37% more Americans will travel this year.”
How do Americans feel about their finances this 4th of July?
The encouraging news is that 64% of Americans feel financially independent this 4th of July, which demonstrates that we are recovering from the damage done by the COVID-19 pandemic. Without all of the stimulus measures taken by the government to support people and small businesses, the number of people feeling financially independent would likely be much lower.
This 4th of July, how do Americans feel about spending versus saving money?
Around 62% of Americans believe that saving money is more patriotic than spending it right now, which makes sense because many people had their savings wiped out by the pandemic. People who rebuild their savings can be less reliant on support from the government, which frees up more resources for the country to use for other important things, like public health and infrastructure. Spending money can also be patriotic, though, because it stimulates the economy and helps the country grow.
Do Americans think local governments should hold fireworks displays on the 4th of July?
Around 62% of Americans don’t think that local governments should use taxpayer dollars to fund fireworks displays this 4th of July. While they’re considered a staple of 4th of July celebrations, fireworks are a luxury, and people would rather see their tax dollars go to more essential things as the country recovers from the COVID-19 pandemic.
