Festivals Cost Music-Lovers £3 Billion
The festival season for music-lovers costs a collective £3 billion of which tickets and spending money is included, research shows.
Research by Post Office reveals those attending music festivals and sporting events this year will spend on average £187.30 per person on tickets and spending money. It is estimated some will even spend as much as £550.
The study reveals over 18 million people will be attending these types of events this summer whether it’s Glastonbury for example or Glydebourne. Around £187.30 will be spent per person on tickets, food and accommodation –a total of more than £3 billion.
“People are already spending hundreds of pounds on events this summer, so it is wise to avoid facing further financial demands by making sure any valuable items are fully protected against loss, damage or theft,” said Gerry Barrett, Post Office head of home insurance.
“Leaving high value goods such as laptops of iPads at home is probably the safest approach.”
With so many festivals available to the public, the only thing holding back many Brits from attending one, or more than one, is the cost. One in five 18-24 year olds said they would not be able to attend their favourite festival this year because of the price of doing so.
While 48 percent of respondents said outdoor events are more expensive now than they were five years ago.
Budget with a Pay as you go Card
If you are keen to go to your favourite festival this year but do not think you will be able to afford it then a pay as you go card could help you save.
These cards aid budgeting as the user cannot spend more than they loaded onto it, so if you want to keep some money aside each month you can be sure you will not unknowingly spend it.