Greene King Leisure Spend Tracker reveals optimism among young adults

Young adults are the most optimistic in their leisure spending plans for 2015, according to Greene K

Young adults are the most optimistic in their leisure spending plans for 2015, according to Greene King's latest Leisure Spend Tracker survey. - Credit: Archant

Britain’s 18- to 24-year-olds are more optimistic in their leisure spending plans than any other age group, according to a survey by pubs and brewing group Greene King.

The Bury St Edmunds-based company’s latest Leisure Spend Tracker survey found that nearly a third (30%) of young adults expect to increase the amount they spend on eating out this year, with a similar proportion planning to spend more on drinking outside of the home as well.

In contrast, a quarter of households with children expect to reduce spend on eating and drinking out, considerably more than those who expect to increase it.

Overall, the survey reveals that avearge household leisure spending during January fell by 4% down compared with the same month a year earlier to £183.

Eating Out was once again the strongest performing category, with year-on-year growth of 13%. Drinking Out was relatively resilient, with a fall of just 1%, but Other Leisure continued its sustainted decline, falling by 19% compared with January 2014.

Fiona Gunn, marketing director Greene King, which is a member of the EADT/EDP Top100 listing of the 100 largest companies in Suffolk and Norfolk, said: “Britain’s youth have had a tough time during the credit crunch but this month’s leisure tracker suggests the worst is now behind them.

“Our survey found that 18- to 24-year-olds are willing to spend more on eating out, drinking out and big ticket items this year than in 2014. This is a sign that Britain’s youth may now be more confident about their job security, wages and better prospects in 2015 and consequently expect to have more spare cash to spend on having a good time.”

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The overall increase in Eating Out is likely to be a reflection of the fall in petrol prices which has seen inflation fall to record lows, so increasing disposable income.

However, the report also revealed a regional split for January, with London and the South East reducing leisure spend by 15% while households elsewhere in Britain increased their spend by 3%. Fiona Gunn added: “This may suggest other regions are starting to benefit from the more positive economic outlook.”