Americans have already spent $300 billion on holiday gifts this year

holiday shopping
Photo credit Getty Images

The holidays are an expensive time of year, and it seems many people are feeling extra generous this season.

According to a new study, Americans are expected to spend over $300 billion on Christmas presents alone in 2022.

Ecommerce Intelligence analyzed the top 100 most populous cities across the nation to see how much they are willing to spend this Christmas.

The study shows Americans will spend an average of $932 on presents. For some, that's over half their monthly income on gifts.

So, where do the most generous gift givers live?

According to the study, residents in Scottsdale, Arizona, are shelling out the most, giving up over half (55%) their monthly wages on gifts this year. The average holiday budget in Scottsdale is $2,271.

Shoppers in Gilbert, Arizona were next with 40% of their income going to gifts. The average holiday budget here is $1,631.

Chesapeake, Virginia, was third, spending 38% of their wages on presents with an average holiday budget of $1,420.

In fourth place is Arlington, Virginia, where shoppers spend 37% of their wages on gifts and have an average holiday budget of $2,484.

Santa Clarita, California came in fifth place, also spending 37% of their income on presents, but with a much smaller average holiday budget of $1,544.

Here's how the rest of the top 10 most generous cities shake down:

#6. Saint Paul, Minnesota -- 36% of salary -- $1,341 budget
#7. Freemont, California -- 35% of salary -- $2,147 budget
#8. Chandler, Arizona -- 35% of salary -- $1,480 budget
#9. Seattle, Washington -- 34% of salary -- $1,328 budget
#10. St. Petersburg, Florida -- 34% of salary -- $1,328 budget

On the flip side, residents in other locations are hard-pressed to spend a significant amount of their monthly income on presents.

The study shows residents in Memphis, Tennessee shell out the smallest percentage of their salary on gifts -- 11% with an average holiday budget of $596.

The second least generous city is Newark, New Jersey, where shoppers also spend 11% of their wages and have an average holiday budget of $710.

Cincinnati, Ohio is the third least generous. Shoppers here spend 12% of their monthly income on presents, with an average budget of $583.

In fourth place is New Orleans, Louisiana, where shoppers spend 12% of their wages on gifts and have an average holiday budget of $629.

Residents in Detroit, Michigan are the fifth least generous, spending 14% of their monthly salary on gifts with an average budget of $794.

Here's the rest of the top 10 least generous cities:

#6. St. Louis, Missouri -- 15% of salary -- $638 budget
#7. Miami, Florida -- 15% of salary -- $658 budget
#8. Cleveland, Ohio -- 15% of salary -- $728 budget
#9. Nashville, Tennessee -- 15% of salary -- $846 budget
#10. Los Angeles, California -- 15% of salary -- $852 budget

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Featured Image Photo Credit: Getty Images