Will festival spending continue to soar this year?

posted by 4 years ago in Features

Festival season is currently underway and, with events from the Isle of White to Glastonbury, the UK undoubtedly has one of the most thriving festival markets in the world.

Last year saw an 8.5% increase in the amount people spent on gigs and festivals according to research by Barclaycard. Collectively the smaller independent events have contributed over £1 billion to the UK economy over a four-year period according to the Association of Independent Festivals (AIF). Not only that but, in many cases, the events are on greenfield sites meaning it’s the rural areas that are feeling the benefit of the economy boost.

So what do festival goers spend their money on? Perhaps unsurprisingly it’s not whistles and glow sticks but food, alcohol and toilets!

A study, by The Events Structure, questioned 10,000 people about what they were prepared to spend their money on at events and festivals and found that food was the most popular expense with almost 40% of participants admitting they were more than happy to overspend on snacks.

Alcohol was the runner-up – with 30% of respondents, and 38% of over-65s, saying they were prepared to foot the bill for festival booze.

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When it comes to spending a penny 25 to 34 year olds were the group most concerned saying that the essential toilet facilities are a must and an area worth spending cash on!

12% of those surveyed said they’d be happy to splash their cash on additional tickets and passes at an event – with almost a fifth of 18-24s giving it their vote, versus just 2% of 55-64 year-olds.

Justin Isles, Managing Director at The Events Structure said:

“We’re finding festivals are an increasingly dominant part of our overall client project profile. It’s been enlightening to work with brands using these events – not only to launch, but to actually retail products and drive revenue.”

The average person spends more than £450 attending a number of live music events each year, according to separate figures from the Association of Independent Festivals. Glastonbury, which hosted almost 200,000 festival goers last year, is the most expensive festival with the average person spending £425 over the weekend alone.

Source: www.theeventsstructure.com/news/festival-spending-survey-data-breakdown