British women are more downbeat about their finances than their male counterparts, according to the Greene King Leisure Spend Tracker.
When Brits were asked whether they feel their financial situation is better or worse than five years ago, 6% more women than men responded negatively, with only 29% of women feeling better off than they were in 2010. These recently published figures indicate that, while many believe that the worst is behind us and the UK is heading for a brighter future, British women are still not convinced.
The tracker has shown that, overall, more women expected their financial situation to be worse than improve over the coming year, whereas generally, men were marginally more positive about their household’s financial outlook.
Victims of the recession
Fiona Gunn, Greene King’s marketing director said: “Women have been victims of the recession, losing jobs more frequently and still reportedly earning, on average, less per hour than men.
Women also tend to err on the side of caution when opening their wallets so it is unsurprising that the latest Leisure Spend Tracker found that women are less optimistic about their prospect for 2015 and that they still feel worse off than five years ago.”
Key highlights
- In February, the average British household spent £196 on leisure, down 4% versus the same time last year but increased 7% compared to January
- Eating Out and Drinking Out increased by 7% and 2% respectively in February while Other Leisure decreased by 15%
- Drinking Out increased 13% compared to January, as people’s abstinence from alcohol weakened
- 42% of women and 36% of men claim their household’s financial situation is worse compared to five years ago
- 18-24 year olds are the most optimistic for the coming year, with 87% expect their household’s financial situation to remain unchanged or improve
- The least positive age group are the over 55 year olds, with only 23% of the age group feeling better off now than they were in 2010
- Households with kids feel slightly more positive about their prospects for the coming year than households without kids
4% decrease year-on-year in Total Leisure spend
The Greene King Leisure Spend Tracker reported a 4% decrease year-on-year in Total Leisure spend to £196, down 7% compared to January. Growth in Eating Out, up 7% year-on-year, continues as British households spend grew for the seventh consecutive month.
Other Leisure Spend fell 15% while Drinking Out continued to grow with a 2% increase year-on- year.
The Rest of Britain spent £8 less in February on Total Leisure compared to London and the South East which spent £3 less, showed the disparity between regions has increased once again.
Spending pattern mirrors January
Fiona added: “February’s spending patterns mirror January, as Eating Out saw considerable growth, Drinking Out held its ground and Other Leisure declined significantly compared to the same month last year. The gap in leisure spend between London and the South East and Rest of Britain has reduced in recent months, so it is interesting to see a slight reverse in that trend in February. Maybe we can put that down to London and the South East households being more romantic, as during Valentine’s week, we saw a spike in Eating Out spend in this region compared to the Rest of Britain.”
For more information click here