Household expenditure on leisure in the UK has seen notable fluctuations over the past decade. Between 2013 and 2019, there was a steady increase, with a peak year-on-year growth of 8.26% in 2017. However, the impact of the COVID-19 pandemic was evident in 2020, with a significant decline of 12.79%. A strong recovery occurred in 2021 with a 15.07% increase, followed by consistent growth into 2022.
As of 2023, the expenditure reached 142.86 billion pounds sterling but displayed a minor decline of 0.81% from the previous year. The 5-year CAGR leading up to 2023 was 2.57%, indicating moderate growth despite the temporary setback in 2020.
Forecasts up to 2028 suggest a continued, albeit slower, growth with a 5-year CAGR of 1.65%, reaching an expenditure of 158.55 billion pounds sterling by 2028. This represents an overall growth rate of 8.55% from 2024 to 2028.
Future trends to watch for include:
- Shifts in consumer preferences post-pandemic, potentially towards more experiential and digital leisure activities
- Influence of economic factors such as inflation and disposable income on leisure spending
- The impact of technological advancements on leisure industries
- Environmental and sustainability considerations influencing leisure choices
