The UK boasts the world’s second highest spend-per child on toys and videogames, according to the latest projections from Euromonitor.
Second only to Australia, the research group reveals that spend per child grew last year to £600 and £550 in Australia and the UK respectively.
The projections emerge despite the fact that the UK’s toy market is worth more than twice as much as Australia’s, at £5.7bn compared to £2.4bn.
North America, Western Europe and Australia have the highest middle class spending in the world.
“Middle class households are very important to the toys and games industry because they largely drive consumer spending. Although the middle class in emerging markets is seeing rapid expansion, purchasing power remains low,” stated Euromonitor in a report.
“In 2013, middle class household spending on discretionary items (that is, all items except food, nonalcoholic drinks and housing) was $6,095 on average in China and $3,611 in India , compared to $83,959 in Australia and $72,994 in the US.”
Countries with older first-time mothers and more women in the labour force and therefore higher household income also tend to spend more on toys and games for their children, reports Yahoo News.