Aussies set to spend big over Easter thanks to nest eggs saved up during the pandemic
A new survey has found that Australians will have money to burn this Easter, thanks to savings that have been mounting up during the Covid pandemic.
The survey, conducted by leading Australian financial comparison company Savvy, found that almost three quarters of Australians (73%) intend to spend up big this Easter.
58% of the total 1003 say they’ll be spending up to $500 while a further 23% will spend between $500-$1,000. An additional 14% intend to spend between $1001 and $2000.
The total expected average per person is around $485, with $119 of this going towards groceries, followed by eating out ($119), alcohol ($72). Oddly enough, Easter eggs, chocolate and sweets came in second to last at $45 per person.
The most popular form of transport this Easter break looks like being our own cars, with 609 of 1003 respondents indicating they will budget an average of $140 for fuel and expenses.
And where will we be travelling to?
Where we were generally hesitant to leave our homes at the start of the pandemic, we’re now feeling less worried and travel looks like being back on the agenda.
The survey revealed that 26% of Australians intend to travel within their own state, while 17% will take a ‘staycation’ – taking advantage of attractions within their local area. Only 2% will travel abroad, while 10% will travel interstate. Sorry, Qantas.
The survey also reveals that Aussies’ attitude towards the possibility of future snap lockdowns and restrictions is changing, with 14% ‘unconcerned’ and a further 13% ‘not concerned at all’ about the possibility of being caught in a lockdown trap.
Of those intending to travel this Easter (55.5%), 22.4% of total respondents said their motivation for leaving home was to rest and relax, while 17.4% wanted to re-connect with family.
When it comes to the type of accommodation people will be seeking, only 12% of respondents said they’ll be spending Easter in a hotel, while 3% said they’ll be renting out an AirBnB or equivalent.
This means local hospitality and tourism operators can expect to prosper this Easter, as Australians spend their savings closer to home. In fact, 56% of all respondents intend to visit shopping centres, and 52% are planning to eat out at restaurants.
Shopping will be the most popular Easter activity among young people (63% among 18-25s, 61% among 25-34s) with farmers markets being most favoured among the older generation (33% of 55-64s.)
Says personal finance expert, Bill Tsouvalas: “Governments need to continue encouraging people to spend their money on hospitality or tourism, which benefits the economy as a whole.”
For full survey results, click here.
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