Numerous major events will be celebrated in October 2020, including World Vegeterian Day, Germany Unity Day, and World Cities Day, among others. Historically, the month of October has notable events that influence on finance and investment.
- October 1: World Vegetarian Day to celebrate and demonstrate the benefits of being vegetarian. The globally celebrated event is of interest to the marketing team that needs to understand the dynamics of marketing to vegetarians.
- October 1: International Coffee Day with the main agenda being calling coffee lovers across the world to commit to support the fair living income for all coffee farmers in the world. The event is significant because it promotes coffee trade and marketing globally.
- October 2: Gandhi Jayanti is a national holiday and one of the most important events in India meant to mark and celebrate the birth of Mahatma Gandhi. The political event is marked by increased spending as people celebrate.
- October 3: Germany Unity Day is a major event celebrated on the first Saturday of October every year, which falls on October 3 this year. The event celebrates the unification of Germany.
- October 15: Global Handwashing Day celebrated globally to create and increase awareness on the importance of handwashing in maintaining hygiene and preventing diseases.
- October 17: International Day for the Eradication of Poverty that is celebrated globally to acknowledge and appreciate the problem of poverty and focus more efforts towards addressing it.
- October 31: World Cities Day to celebrate and focus the world’s attention on the important issue of urbanization, including exploring opportunities and addressing the urban challenges in terms of realizing sustainable development. The event has significant impact on the economy because it has an influence on economic and social issues.
- October 14-16: Intergovernmental Group of Experts on E-commerce and the Digital Economy, fourth session in Geneva, Switzerland. The global event has an impact on the economy.
Insights on the Month of October In Relation to Finance and Investment, Historically
October and Halloween Spending
- October is the month of the Halloween celebrations in the U.S. Halloween is a historical celebration celebrated for many years in the US and some other countries on October 31.
- It marks the beginning of Allhallowtide, which is devoted to the commemoration of the dead saints, faithful, and martyrs.
- October is considered an important month from an economic perspective because of the high spending among American households during Halloween. In 2018, it was estimated that about 95% of people in America bought candy amounting to a total of $2.6 billion.
- Moreover, spending on pumpkins was estimated to be $575.26 million accounting for approximately 80% of the entire country’s pumpkin supply.
- Overall, because of the Halloween celebrations, Americans’ spending in the month of October increases significantly and this has had far-reaching economic implications.
- For example, increased spending in October due to Halloween leads to a higher GDP that helps in revitalizing the economy.
October the Month of Fun
- October has historically been considered a month of fun and fun activities in America. Since the month comes in the middle of fall season, it has favorable weather conditions for fun activities including traveling, festivities, and sports.
- Moreover, the major professional sports leagues in America schedule their games in October every year. Traditionally, the NBA, the NHL, and NFL schedule their games starting in October with most of the games falling in the last three weeks of the month.
- Sometimes, this has resulted in sports equinox, which refers to occasions where all the major leagues have games on the same day.
- To date, sports equinoxes have occurred over 20 times in America.
- From a historical perspective, October has proven to be one of the most fun and sporty months of the year when Americans engage in different forms of fund and sports.
- From an economic perspective, the increased fun and sporting activities during the month means increased spending on these activities, especially in the sporting events that raise significant amounts of money from fans who attend and watch the games as well as sale of merchandise.