Brits in London and across the nation are gearing up to spend a whopping £42.2 billion on hosting festive celebrations this season, according to a recent survey by Jackson Woodturners. The survey reveals that two-thirds of Brits will be hosting guests at least once during the festive season, with each person hosting an average of 6 times. This adds up to an estimated 340 million parties, drinks, dinners, and other festive occasions being hosted nationwide.
Lucie Levesley, Director at Jackson Woodturners, emphasized the importance Brits place on getting together with family and friends during the festive season. However, she also pointed out that almost half of the respondents admitted to judging other people’s homes, raising the question of whether the pressure to be the perfect host is becoming too expensive.
The survey found that the average host spends £1,192 on hosting during this time of year, which is almost half of the UK’s average monthly salary. In addition to food, drink, and gifts, hosts also spend an average of £295 on additional furniture and decorations to create a festive atmosphere for their guests. This amounts to over £3.8 million being spent on indoor decorations, £33.3 million on outdoor decorations, and £3.4 million on furniture nationwide.
Interestingly, guests tend to underestimate the amount spent by hosts, with the older generation more likely to underestimate the cost compared to the younger generation. While guests believe hosts spend around £1,120, the true cost is actually £1,192. Some Brits, however, will not be hosting anything over the festive period due to reasons such as cost, house appearance, lack of friends and family to invite, or being invited elsewhere.
Moreover, Brits are expected to spend an additional £491 over the festive season this year compared to last year, with many opting to pay for expenses on credit. While using credit can be convenient, it can also lead to financial strain for some individuals if not managed carefully.
Overall, the festive season in London is shaping up to be a time of joy and celebration, but it’s important for both hosts and guests to be mindful of their spending and financial well-being during this time. Let’s remember that the true spirit of the season lies in coming together with loved ones, rather than the material aspects of hosting a perfect event.
