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Engagement Ring Cost by Country 2024

Engagement traditions vary from country to country, and this is certainly the case when it comes to spending money on an engagement ring. The countries that spend the most on engagement rings are the United States and Hong Kong, where engagement rings typically cost between $5,000 and $7,000. Switzerland spends a similar amount: $4,000 to $6,000. No additional countries have a spending range that extends past $5,000, but several approach it.

Many Western countries wear engagement rings on the left hand, a throwback to Roman times when it was believed that the fourth finger had a vein that connected right to the heart. However, while diamonds are the go-to stone in the United States, they are a relatively new trend and many countries, such as France, prefer more colorful gems. Rubies, sapphires, and emeralds are all popular gemstones for European engagement rings.

In Sweden, couples spend $2,000-$3,500 on a wedding ring. This number is significantly lower than what one would expect to spend in the United States, but certainly not a small amount of money. This aligns with the Swedish custom of keeping engagement rings for both partners simple, but presenting a diamond to the bride on her wedding day.

On the other end of the data set, Pakistan, Bangladesh, Myanmar, Nepal, and Cambodia all spend between $300 and $800 on an engagement ring. However, the cost is not the most important aspect of an engagement ring. Most important is what the ring symbolizes: the love and commitment of two people.

In Ireland, for example, the average cost of an engagement ring ranges from $1500 to $3500, but in place of a jeweled ring, the traditional Claddagh ring is still an immensely popular choice. The Claddagh ring is more than a simple band, it is shaped into two hands holding a heart, with a crown on top. How you wear the ring can signify your relationship status. Wearing the ring on the right hand with the crown pointing away from the wearer indicates that the person is single. When that person enters a serious relationship, they can flip the ring so the crown points toward them. Similarly, if the person gets engaged, they can wear the ring on the left hand with the crown pointing away, flipping the ring on the left hand when they get married.

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Country
Upper Value
Engagement Ring Lower Value (USD)
United States$7,000$5,000
Hong Kong$7,000$5,000
Switzerland$6,000$4,000
Australia$4,900$3,500
Taiwan$4,500$2,500
Netherlands$4,500$2,500
Belgium$4,500$2,500
Denmark$4,500$2,500
Norway$4,500$2,500
New Zealand$4,500$3,000
Italy$4,200$1,800
Canada$4,000$2,400
Austria$4,000$2,000
Finland$4,000$2,000
Brazil$3,600$1,800
Spain$3,600$1,200
Poland$3,500$1,500
Sweden$3,500$2,000
Czech Republic$3,500$1,500
Portugal$3,500$1,500
Ireland$3,500$1,500
Turkey$2,800$1,200
Chile$2,800$1,200
Hungary$2,800$1,200
Slovakia$2,800$1,200
Croatia$2,800$1,200
South Africa$2,700$1,350
United Kingdom$2,600$1,300
Argentina$2,500$1,200
Malaysia$2,500$1,000
Zimbabwe$2,500$1,000
Maldives$2,500$1,000
Indonesia$2,000$800
Mexico$2,000$1,000
Nigeria$1,800$800
Egypt$1,800$800
Tanzania$1,800$800
Kenya$1,800$800
Colombia$1,800$800
Uganda$1,800$800
Algeria$1,800$800
Morocco$1,800$800
Venezuela$1,800$800
Zambia$1,800$800
Kazakhstan$1,800$800
Romania$1,800$800
Fiji$1,800$800
Ukraine$1,500$500
Uzbekistan$1,500$500
Sri Lanka$1,500$500
Mongolia$1,500$500
Russia$1,360$680
Vietnam$1,200$500
Pakistan$800$300
Bangladesh$800$300
Myanmar$800$300
Nepal$800$300
Cambodia$800$300
showing: 58 rows

Which country spends the most on engagement rings?

Engagement ring spending varies greatly from one country to the next, but the US tends to spend the most. In some regions of the US, couples may spend $7,600 on engagement rings.

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