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UK health and fitness spending soars
According to a recent survey by consumer analyst, Mintel, spending on health and fitness clubs in the UK has grown faster than any other form of entertainment, by 179 per cent, over the past 10 years.
Peter Ayton, statistician, said: “Health and fitness clubs give people the freedom to train when they want and for as long as they want. This can be a very convenient and efficient way to get fit. There is no need to spend time getting people together like you would do in a competitive game.”
This supports the findings of a separate study by Barclays, which revealed that would-be entrepreneurs are benefiting from the fitness boom by setting up sports and leisure businesses at a faster rate than ever before.
As a result, the total number of start-up companies has reached its highest level since 1988.
Overall, 66,300 new keep-fit, cycling, personal training and health clubs were created in 2003 which marked a 50 per cent rise from the year before.
The boom has been partly attributed to the housing boom, as homeowners have been able to use the equity on their houses to realise their dream of running their own business.
Mintel also predicts that the leisure sector will continue to be the main beneficiary of the increasing amount of free time and surplus wealth and that businesses benefiting most from the mounting free time will be those within the fitness and travel sectors.
The report said: “The cinema sector has done well – despite the rise of pay channels that show the latest releases – but the ones most to benefit from the freeing up of time will be the gyms and overseas travelling.” Details: www.mintel.com
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