It's Valentines Day and romantics in America and Europe are taking advantage of the holiday to buy an assortment of gifts for their special someone.

A survey by the US National Retail Federation shows that that total planned spending by Americans this year will be about 20 billion US dollars. About 4.7 billion dollars of that will be spent on jewelry and another 3.7 billion on a special night out. Meanwhile, about 2 billion dollars will go for flowers. Candy and clothing are also among the top spending categories. The survey found that the average American will spend about 143 US dollars on the holiday. That's mid-stream compared with the results from a Groupon survey of Europeans' Valentines Day spending. The most generous European romantics are the Spanish. The survey said that Spaniards plan to spend over 150 US dollar on their significant others. That's while the French, Italians and Germans all have budget of over 100 US dollars. The survey also said that the British seem to be a bit stingy when it comes to romance as their spending is only half that of their European peers.