Spending in restaurants at a five-year high

Eating out at restaurants, as well as spending nights in hotels is at a five year high. This was in contrast to a record low, when spending was at a minimum. The new report showed that households had not completely recovered from 2008, when there was a financial crisis. There have been shifts in what people are spending their money on.

Key Takeaways:

• British household spend on restaurants, cafés and hotels went above £45 per week for the first time since 2011, according to figures released by the Office for National Statistics for the year ending March 2016.
• Restaurants and hotels came in fifth place in total at £45.10, just under food and non-alcoholic drinks (£56.80); recreation and culture (£68); housing, fuel and power (£72.50); and transport (£72.50).
• This contrasted to a record low in spend on alcohol and cigarettes – separate to alcohol in pubs or restaurants ‒ which fell to below £12 per week for the first time since comparable records began in 2001-2002.

“In a statement, Jo Bulman, ONS statistician, said: “While overall household spending didn’t change much in real terms since the previous year, we did see some interesting shifts in the types of things people are spending their money on.””

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