Money burning a hole in Aussie pockets this Easter, with 73% set to spend savings

A new survey has found a huge 73% of respondents have money to burn this Easter holiday.
The survey, conducted by leading Australian financial comparison company Savvy, found almost three-quarters of Australians intend to spend up big this Easter. In fact, 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.
Everyone looks set to spend up on food and drink this Easter, with the total average figure per person coming in at $485. Groceries topped the list at $153, followed by eating out ($119), alcohol ($72), then meat & seafood ($69). Easter eggs, chocolate and sweets came in second to last at $45 per person.
The most popular form of transport this Easter break looks to be people’s own car, with 609 of 1003 respondents indicating they will budget an average of $140 for fuel and expenses.
Where will they be travelling?
In figures just released, the nationally representative survey of 1003 Australians revealed that 26% of Australians intend to travel within their 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.
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.
A boom for regional centres
While 45% of those surveyed intend to ‘stay home’ this Easter break, this does not mean their wallets will remain closed, with 56% of all respondents intending to visit shopping centres, and 52% planning to eat at restaurants.
This means local hospitality and tourism operators can expect to prosper this Easter, as Australians spend their savings closer to home.
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.)
“Money is burning a hole in Aussies’ pockets,” says a leading financial expert.
“Governments need to continue encouraging people to spend their money on hospitality or tourism, which benefits the economy as a whole,” says personal finance expert, Bill Tsouvalas.
“Our survey found people have savings they are eager to spend, with 56 percent saying they will be visiting shopping centres and 42 percent saying they’ll go to restaurants this Easter. Money is burning a hole in Aussies’ pockets. This should be good for local hospitality and tourist destinations that rely on income from Easter visitors.”
“When it comes to overseas travel, Australians need certainty their bookings will go ahead, and they won’t be left scrambling should borders suddenly close. It’s great the international borders will be open on the 21^st of February.”
Who’s splurging on chocolate?
More women than men stated they’d be spending on Easter eggs or chocolate for the upcoming break – 87% compared to 74% of men. When it comes to how much they will be spending, the average figure came in at $45.
 
Written by: Adrian Edlington