• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

Scale & significance to UK economy & consumer spending in the UK on leisure product and services.

Extracts from this document...


Scale & significance to UK economy & consumer spending in the UK on leisure product and services Any industry such as the leisure industry has an impact on a national economy in that it circulates money and employs people who in turn spend their wages. Knowledge of this impact is not just of statistical interest but has real practical importance for three reasons. - It identifies where there are shortages or over-supply of provision. This allows the private sector to seek out new markets, while other sectors and facilities. For example, pub-drinking sales are declining so the breweries are turning to bars and clubs. In the sportswear industry manufacturers know that the market is turning away from trainers to outdoor sports footwear. - It supports the case for the importance of the industry and its impact on the economy. ...read more.


One way of measuring the economic impact is to look at the average household expenditure for which there is long-term data. Since 1968 leisure services and goods have increased more than any other sector of household expenditure due mainly to the service sector. The proportion of household expenditure spent on leisure goods has remained much the same. It is the service sector that has largely accounted for the growth in leisure. The growth of pay TV, visitor attractions, spectator sports and sports/health clubs has meant that there are more opportunities to spend money in the service sector, resulting in substantial growth in household expenditure. The major part of growth is accounted for by the growth of holiday expenses, which accounted for 44% of leisure expenditure in 1998 compared with 2% arts and admissions, 6% sports admissions and fees, 9% TV charges and 9% gambling. ...read more.


Also consumer spending on computers continues to expand. Reading is a national pastime, which is growing rapidly with an estimated sales growth of books and magazines between 1996 and 2000 of 9.3%. Mainly male reading has increased the magazine readership. These include reading FHM, Loaded, GQ, Men's Health and Esquire. These have all had an impact on the magazine market. Also three out of the six most read magazines were TV guides. Sky TV guide is the most popular read by 12 % of adults. This reflects our love of TV and radio. Expenditure on leisure provision by all authorities in England and Wales. Local authority arts and leisure in 1999 - 2000. The 410 local authorities together will have spent in total �2066 million on leisure provision. The pie chart above gives the proportions spent on the various sectors. Adam Derrington ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Economy & Economics section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Economy & Economics essays

  1. Biography of Adam Smith.

    local consumption using local resources, the entrepreneur's natural inclination contributes to the vitality of the local economy. And because the owner and the enterprise are both local they are more readily held to local standards. Even on pure business logic, Smith firmly opposed the absentee ownership of companies.

  2. This report will establish the opportunities and threats presented to Sony by the EU ...

    UK use three pin plugs whereas those in the rest of the EU countries use the two pin plugs. If Sony standardise have to enclose adaptors for the UK population or will have to decrease the amount of volts usage for the UK population because we use more volts in our electrical appliances.

  1. Analysis of growth in the UK economy

    This caused great concern amongst many politicians and economists at the time. Most economists look back on the period as a failure. Elbaum and Lazonick, two North American economists say: "If there is much to be learned from the Japanese success, it is our conviction that the United States may

  2. CAPM and its significance

    Here in figure 1b, all the points along the 'efficient curve' provide investors with best return given certain risk level. It is a matter of different preferences which are up to individuals' different utility function (Frank, 2003) and determine which to choose for different investors.

  1. Free essay

    different sectors of economy

    Engineering Engineers are employed in manufacturing industries, mainly in relation to design and functioning of machinery and equipment. Energy production This sector includes all those businesses that produce and distribute gas and electricity, such as e-on, British gas. This also includes water companies like Severn Trent water.

  2. Inequality in the UK.

    The graph below is taken from National Statistics Online and shows the Gini coefficient for equivalised disposable income in the UK from the 1979 to 2002. During the first half of the 1980s disposable income inequality was fairly stable, with the Gini co-efficient remaining around 0.27.

  1. Local, national and European economies impact on two contrasting organisations within the UK, Vauxhall ...

    From looking at Vauxhall current position you can see its main aim to get back to profitability. (See appendix B) JD Wetherspoon JD Wetherspoon on the other hand is a fairly new company and has an organic growth in process.

  2. Chinese economy sets for soft landing in 2005.

    In his remarks, Li said that China is accelerating the restructuring of state-owned enterprises. Reforms include the reshaping of the shareholding system and the setting up of corporate boards to create appropriate checks and balances. The government is also aiming to realign and rationalize the SOE sector through mergers and acquisitions and increased competition.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work