Over a third of Brits cut down on nights out and gigs amid rising costs, study finds
The study claims that socialising is the first thing people scale back on Continue reading...
Over a third of Brits are cutting down on nights out and gigs amid soaring living costs, a new study has found.
The study from Aqua, which surveyed 2,000 adults across the UK, found that socialising is the first thing people scale back on when financial pressure hits.
It found that 35% of people in the UK cut back on live entertainment like concerts, nightlife and cinema trips despite spending an average of £176 on this each month.
It also notes that these numbers change between generations, with 26.5% of 45 to 54-year-olds saying they’re spending less on socialising, and over half (53.3%) of 18 to 24-year-olds saying that they spend more.
Gen Z spend an average of £257 a month on socialising, the study found, with just 5.7% of them saying that they’re cutting back on nights out and entertainment.
The study also found that 41% curb going on days out, 55% cut back on eating out, and 23% say they’re reducing the amount they spend on hobbies.
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"Over the past few years, many essential household costs have increased considerably, leaving people with less flexibility in their monthly budgets and making unavoidable expenses feel even more frustrating," says Aqua’s Scott Yule.
A study published by the Night Time Industries Association (NTIA) in September claimed that Britain is becoming an “early-night economy”, with the majority of income for bars coming between 5 - 7:PM (25.1%).
"Britain’s nightlife has spent six years taking hit after hit, and these figures show just how much we have lost," said NTIA CEO Michael Kill at the time.
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