Spending on holidays over the next few months will be ‘significantly below’ last year’s level, according to a report by financial services firm Deloitte.
While there was a big increase in spending on long-haul holidays and short breaks in the first quarter of the year, Deilotte said people planned to spend a lot less than last year in the next quarter.
Its report shows consumers plan to spend less in almost all leisure activities, apart from playing sport and attending live sports events.
"Despite inflation beginning to ease and wages growing gradually, there has been a clear shift in behaviour with consumers starting to rein in their leisure expenditure," said the report.
"This suggests that as essentials take up a larger part of their income, consumer are consciously re-evaluating and adjusting their discretionary spending."
