Hospitality to benefit from £7.4bn spending boost this Xmas

Brits are planning to spend up to £200 on festive outings throughout the season, amounting to an estimated £7.4bn splurge on Christmas parties nationwide this year, according to research from Double Dutch and OnePoll.

According to the survey of 2,000 UK adults, the increased spending provides a welcome boost to the hospitality industry, which has faced its fair share of challenges in recent years.

With nearly half of Londoners (48%) poised to spend over £100 on each Christmas night out, the capital city stands out as a “leading contributor” to this spending surge.

The survey revealed that venues, pubs, bars, and restaurants are well-positioned to benefit from this festive windfall, with over 44% of consumers prioritising visits to such establishments if their disposable income were to be cut further.

This surpasses other spending categories like clothing (28%), home improvements (27%) and holidays (27%).

The survey also highlights the changing dynamics of the holiday season, as younger adults, particularly Generation Z (18-24 year-olds), opt for a “self-proclaimed hangover day”, turning their backs on the ‘hustle culture’.

Approximately 60% of young adults, totaling around 3.2 million individuals across the UK, are planning to take a day off to recover from their holiday celebrations.

The survey stated that this generation’s “enthusiastic” spending habits, with an average of over £200 per night out, suggest that the hospitality industry could see “substantial” gains over the Christmas period.

Raissa and Joyce de Haas, the twin co-founders of Double Dutch, said: “Our survey reveals that Brits are wholeheartedly embracing the festive spirit, offering a ray of hope for on-trade hospitality venues following challenging years. Based on these new insights, and to enable our staff to fully enjoy the celebrations, we’ve introduced a ‘party recovery day’ for our team to make the most of the day following our Christmas party.”

Gemma Keegan, brand director at Swingers, a stockist of Double Dutch, added: “This year is set to deliver a record-breaking Christmas in the UK for Swingers, with the highest pre-booked sales we’ve had in December since opening. All key Christmas dates are fully booked and we’re looking forward to welcoming everyone into the venues for a celebration to remember. Group sales bookings up 6% vs 2022 and up 12% vs 2019.”