| The latest research from 77 Diamonds has revealed how much a typical engagement ring costs relative to average monthly earnings around the world. It has found that Italy spends the equivalent of more than a month’s salary on an engagement ring, while the UK ranks fourth at an estimated 77.4% of monthly earnings, despite workers seeing ten year average wage growth of more than 40%. The analysis shows that: Italy is the world’s biggest engagement ring spender, with the average ring costing more than a full month’s salary at 101.1% of average monthly earnings. The UK ranks fourth globally, with an average engagement ring costing an estimated £3,000, equivalent to 77.4% of a typical month’s earnings. UK wages have risen 40.4% over the past decade, but the UK still sits behind Portugal, New Zealand and the US for wage growth between 2015 and 2025. The cost of saying “I do” varies dramatically around the world, with engagement rings representing 95.9% of monthly earnings in the US, but just 24.6% in Germany. Which nations spend the most on engagement rings? Despite a 40% pay increase, UK ring costs equal 77% of monthly income The latest research from 77 Diamonds has revealed how much a typical engagement ring costs relative to average monthly earnings around the world. It has found that Italy spends the equivalent of more than a month’s salary on an engagement ring, while the UK ranks fourth at an estimated 77.4% of monthly earnings, despite workers seeing ten year average wage growth of more than 40%. 77 Diamonds analyzed average annual earnings across ten international markets, comparing 2015 and 2025 salary levels, to assess how earnings have changed over the past decade. The research also compared estimated average engagement ring spending in each country with average monthly earnings, highlighting the estimated proportion of a typical month’s salary required to purchase an engagement ring. *Italy tops the international table, with an estimated average engagement ring spend of €2,927, equivalent to 101.1% of the estimated average monthly salary of €2,894. The United States follows, where an estimated average ring spend of $6,950 represents 95.9% of average monthly earnings.Portugal ranks third, with an estimated average engagement ring spend of €1,794, equivalent to 83.4% of the average monthly salary. The UK follows in fourth place, with an estimated average ring spend of £3,000 compared with average monthly earnings of £3,876, meaning the purchase represents 77.4% of a typical month’s salary. Canada sits just behind the UK, with an estimated average engagement ring spend equivalent to 77.1% of monthly earnings, while Australia follows at 73.9%. New Zealand couples spend an estimated 70.9% of a month’s salary on an engagement ring, followed by Spain at 68.3%. At the other end of the table, France has an estimated average engagement ring spend equivalent to 54.2% of monthly earnings, while Germany records the lowest proportion among the nations analased, at 24.6%. UK has seen strong wage growth over past decade The figures come despite significant growth in average earnings across the markets analased over the past decade. In the UK, average annual earnings have increased by 40.4%, rising from £33,137 in 2015 to £46,511 in 2025. This places UK wage growth behind Portugal, where average earnings increased by 57.3% over the same period, New Zealand at 50.1% and the United States at 47.3%. However, UK earnings have grown faster than those in Germany (40.3%) as well as Australia (33.2%), Canada (32.2%), Spain (29.9%), France (24.4%), and Italy (17.8%). Tobias Kormind, Co-Founder of 77 Diamonds, commented: “An engagement ring is one of the most emotionally significant purchases many people will make, so it is fascinating to see how that commitment translates financially in different parts of the world. Of course, there is no right or wrong amount to spend on an engagement ring. The old idea that there is a particular number of months’ salary that someone should spend is increasingly outdated. What matters is finding a ring that reflects the couple, while making a purchase that is financially comfortable. Salary growth is an important part of that equation. UK earnings have increased over the past decade, but the cost of an engagement ring can still represent a substantial outlay relative to income. This makes understanding the different options available, from diamond quality and cut to carat and setting, particularly important for couples looking to get the most from their budget. Ultimately, the value of an engagement ring isn’t determined simply by its price. It is about finding something that feels special and meaningful without turning a romantic milestone into a financial headache.” Data tables and sources*Average annual wage data across nations sourced from The Organisation for Economic Co-operation and Development (OECD)*For average engagement ring spend vs earnings by nation data sources, see data tables Full data tables can be viewed online here |