Leisure spending up 2ppt in Q1: study
Cultural, entertainment and live sport events accounted for the most of quarterly leisure spend.
Spending on leisure rose 2 percentage points (ppt) year-on-year in Q1 with 96% of consumers spending more on activities such as going out to restaurants, bars and the cinema, according to Deloitte’s Leisure Consumer report.
A third of consumers (36%) aged 18 to 34 even admitted that they would rather do leisure activities than shop for clothes.
Experiences on culture, entertainment and live sports events account for most of leisure expenditure in Q1 as it hit its all-time high. About 10% of consumers spent more on long holidays during the quarter.
However, Deloitte noted that in Q2, consumers would most likely favour short breaks over longer holidays. Net spending on short breaks is up 4 ppt in Q1 compared to a year ago, whilst intended spending on holidays grew 1 ppt.
“Looking ahead, four in ten consumers are positive about their personal finances for the rest of the year, but Brexit uncertainty will continue to create some consumer caution which could deter some spending,” Simon Oaten, partner for hospitality and leisure at Deloitte, said.
