Big-ticket leisure items such as holidays are forecast to see more spend in 2018 compared last year, new research reveals.
The optimistic outlook is detailed in a Deloitte review which notes that consumers are not cutting back on leisure spending despite pressures on disposable income.
Spending in the first quarter of this year is expected to increase or at least stay the same across all leisure categories
“Big-ticket items, such as holidays, are forecast to experience the largest increases among leisure categories compared to this time last year,” Deloitte said.
“18-34 year olds are again the most positive about leisure spending in the next three months, and plan to spend more on expensive experiences, such as holidays or culture and entertainment.
“Despite pressures from rising inflation and lower wage growth squeezing disposable income, consumers are not cutting back on leisure spending in the same way as they are on other discretionary purchases.”
The survey shows consumers continuing to favour leisure activities and maintaining spend on holidays, which are projected to see the largest increases among leisure categories such as eating out and spending on culture and entertainment
“As we step into spring, we expect consumers to continue to spend on leisure activities, in particular, big-ticket items such as holidays, which are forecasted to experience the largest increase in leisure spending compared to this time last year,” Deloitte added.