GET ATTRACTIONS MANAGEMENT
magazine
Yes! Send me the FREE digital edition of Attractions Management and the FREE weekly Attractions Management ezines and breaking news alerts!
Not right now, thanksclose this window
Get digital editions & ezines FREE >
Jobs   News   Features   Products   Company profilesProfiles   Magazine   Handbook   Advertise    Subscribe  
Research
Tough times

The cost of living crisis is already having an impact on leisure spend, but BVA BDRC’s travel and culture director Jon Young is confident that with careful targeting, attractions can continue to draw in guests


In the current climate you’d be forgiven for thinking that attractions visitors would favour venues that are warm and inside as they try to offset the chill of inflation and rising interest rates.

Despite the cost of living crisis however, there are opportunities for attractions to continue to attract visitors and counterbalance the economic challenges faced by the public. There can be no doubt that the increased cost of living will have an impact on leisure spend.

At consumer and business insight consultancy BVA BDRC, we’ve carried out research that shows three quarters of the UK public are either ‘already hit hard’ or ‘cautious’ and having to be ‘very careful’. Around 80 per cent think the worst is still to come, meaning that they’re likely to hold back even if they built up savings during the pandemic.

It’s important to remember that the public won’t cut back on all of their disposable spending in equal measure though. There will be a hierarchy of non-essential to essential leisure spending and some types of attractions are much better insulated from cost-of-living pressures than others.

We asked consumers which types of activities they were most likely to cut back on over the coming six months. Out of a list of 25 different leisure activities, ‘museums, art galleries and historic houses’ and ‘gardens and country parks’ were very low down in the list – coming 20th and 22nd in the list respectively. Trips to coffee shops, pubs, restaurants, the cinema and streaming services are a few examples of activities respondents said they would cut back on first. Less positively, ‘theme parks, zoos and farm attractions’ were more vulnerable – ranked fourth in the list of activities consumers would choose to cut back on, behind restaurant visits, holidays, shopping and visits to pubs and bars.

The clear implication, perhaps unsurprisingly, is that more expensive attractions will suffer first.

However, cost is not the only driver. If we look at the cut-backs ranked ahead of some of the cultural attractions, many of these are fairly inexpensive; visits to cafés or coffee shops and streaming services are relatively cheap.

A key difference is the value consumers place on these activities in boosting their physical and mental health. The main planned cut-backs are to indulgent activities. Those seen to boost physical and mental wellbeing are least likely to be cut and most visitor attractions fall into the latter category. If theme parks, zoos and farm attractions can communicate their educational benefits and their role in improving mental health, that’s likely to help them as people choose where to make cuts to their spending.

Attractions operators may also want to actively promote membership packages – although ‘attraction memberships’ were mid-table in terms of cut-backs, their value during difficult financial times means they could act as a kind of leisure safety net for some members of the public.

While most people will be negatively impacted by the cost of living crisis, we should remember that around a quarter of the UK population are unlikely to be affected. This is relatively consistent across life stages which suggests there’s still a place for exclusive, premium experiences. These could go some way towards off-setting rising costs and a reduction in spending by the cash-strapped majority.

The conversation around lost admissions can be a little too inward-looking. Rather than worrying about the visitors we might lose, we might also want to think about the ones we can gain. Our research shows that a large majority of the UK public haven’t visited a visitor attraction in the last two years.

Moreover, according to our brand health research, even some of the most iconic attractions in the UK have never been visited by a large proportion of the UK public.

Of the top 10 most-visited attractions ever – only 37 per cent of people had visited the most popular attraction, Alton Towers (45 per cent of people who live in the Midlands) and only 35 per cent of people have visited Madame Tussauds.

There’s also an opportunity to increase the public’s understanding of what attractions offer. Some household names boast very high awareness but very low understanding of what a visit actually involves. A lack of understanding of what happens when you walk through the door is a big issue when trying to attract people who may already have internal barriers around visiting. Heritage sites in particular need to communicate their offer more clearly.

A further area for development is communicating the fact that an attraction is family-friendly. Our findings revealed a number of family-friendly venues that people stated they were familiar with, but didn’t think they had a family offer. This will be driven by perceptions rather than product and some perceptions are driven by the type of venue rather than the venue itself.

Cutting past sector perceptions – as National Trust and English Heritage have done in the Heritage sector – is important. One attraction that has done this well is Eden Project – overcoming traditional perceptions of botanic gardens to be ranked in the top 12 most perceived family friendly attractions – Top 5 amongst residents of the South West.

In summary, people are concerned about their finances and the sector will inevitably be hit, but some attractions will be insulated and there are opportunities there – not just to protect your market, but to grow it too.

Photo: BVA BDRC

"If theme parks, zoos and farm attractions can communicate their role in boosting mental health, that’s likely to help as people choose where to make cuts to their spending" – BVA BDRC’s travel and culture director, Jon Young

Gardens and country parks are seen as being good for mental and physical health Credit: Photo: National Trust Images/Arnhel de Serra
Theme parks were high up on the list of attractions visits people might cut back on Credit: Photo: Merlin Entertainments
Clearly communicating a family-friendly offering is vital Credit: Photo: Merlin Entertainments
Even some of the most iconic attractions have never been visited by a large proportion of the UK public Credit: Photo: Phil Richardson
Heritage sites need to communicate their offer very clearly Credit: Photo: Historic Royal Palaces
COMPANY PROFILES
Alterface

Alterface’s Creative Division team is seasoned in concept and ride development, as well as storyte [more...]
Painting With Light

By combining lighting, video, scenic and architectural elements, sound and special effects we tell s [more...]
Red Raion

Founded in 2014, Red Raion is the CGI studio specialized in media based attractions. [more...]
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
+ More profiles  
FEATURED SUPPLIER

How two water rides are creating refreshing adventures in Vietnam’s biggest theme park
Aiming to become a top entertainment destination in southern Vietnam for both domestic and international tourists, VinWonders Phú Quốc opened in 2021 as the biggest theme park in the country. [more...]
VIDEO GALLERY

Red Raion - Testimonial Richard Needham - SimEx-Iwerks Entertainment
Last July 7th, Red Raion took part in the opening event of FICO Eataly World, the Italian theme park dedicated to food - the only one worldwide! Find out more...
More videos:
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

24-26 Oct 2023

ASEAN Pool & Spa Expo

IMPACT Exhibition Centre, Thailand
24-27 Oct 2023

Synergy - The Retreat Show

Palmaïa, The House of Aia, Playacar, Playa del Carmen, Mexico
+ More diary  
LATEST ISSUES
+ View Magazine Archive

Attractions Management

2023 issue 2


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2023 issue 1


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2022 issue 4


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management

2022 issue 3


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription

Attractions Management News

06 Apr 2020 issue 153


View on turning pages
Download PDF
View archive
FREE digital subscription
Print subscription

Attractions Handbook

2019


View issue contents
View on turning pages
Download PDF
FREE digital subscription
Print subscription
 
ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
 
ATTRACTIONS MANAGEMENT
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2023
Jobs    News   Products   Magazine   Subscribe
Research
Tough times

The cost of living crisis is already having an impact on leisure spend, but BVA BDRC’s travel and culture director Jon Young is confident that with careful targeting, attractions can continue to draw in guests


In the current climate you’d be forgiven for thinking that attractions visitors would favour venues that are warm and inside as they try to offset the chill of inflation and rising interest rates.

Despite the cost of living crisis however, there are opportunities for attractions to continue to attract visitors and counterbalance the economic challenges faced by the public. There can be no doubt that the increased cost of living will have an impact on leisure spend.

At consumer and business insight consultancy BVA BDRC, we’ve carried out research that shows three quarters of the UK public are either ‘already hit hard’ or ‘cautious’ and having to be ‘very careful’. Around 80 per cent think the worst is still to come, meaning that they’re likely to hold back even if they built up savings during the pandemic.

It’s important to remember that the public won’t cut back on all of their disposable spending in equal measure though. There will be a hierarchy of non-essential to essential leisure spending and some types of attractions are much better insulated from cost-of-living pressures than others.

We asked consumers which types of activities they were most likely to cut back on over the coming six months. Out of a list of 25 different leisure activities, ‘museums, art galleries and historic houses’ and ‘gardens and country parks’ were very low down in the list – coming 20th and 22nd in the list respectively. Trips to coffee shops, pubs, restaurants, the cinema and streaming services are a few examples of activities respondents said they would cut back on first. Less positively, ‘theme parks, zoos and farm attractions’ were more vulnerable – ranked fourth in the list of activities consumers would choose to cut back on, behind restaurant visits, holidays, shopping and visits to pubs and bars.

The clear implication, perhaps unsurprisingly, is that more expensive attractions will suffer first.

However, cost is not the only driver. If we look at the cut-backs ranked ahead of some of the cultural attractions, many of these are fairly inexpensive; visits to cafés or coffee shops and streaming services are relatively cheap.

A key difference is the value consumers place on these activities in boosting their physical and mental health. The main planned cut-backs are to indulgent activities. Those seen to boost physical and mental wellbeing are least likely to be cut and most visitor attractions fall into the latter category. If theme parks, zoos and farm attractions can communicate their educational benefits and their role in improving mental health, that’s likely to help them as people choose where to make cuts to their spending.

Attractions operators may also want to actively promote membership packages – although ‘attraction memberships’ were mid-table in terms of cut-backs, their value during difficult financial times means they could act as a kind of leisure safety net for some members of the public.

While most people will be negatively impacted by the cost of living crisis, we should remember that around a quarter of the UK population are unlikely to be affected. This is relatively consistent across life stages which suggests there’s still a place for exclusive, premium experiences. These could go some way towards off-setting rising costs and a reduction in spending by the cash-strapped majority.

The conversation around lost admissions can be a little too inward-looking. Rather than worrying about the visitors we might lose, we might also want to think about the ones we can gain. Our research shows that a large majority of the UK public haven’t visited a visitor attraction in the last two years.

Moreover, according to our brand health research, even some of the most iconic attractions in the UK have never been visited by a large proportion of the UK public.

Of the top 10 most-visited attractions ever – only 37 per cent of people had visited the most popular attraction, Alton Towers (45 per cent of people who live in the Midlands) and only 35 per cent of people have visited Madame Tussauds.

There’s also an opportunity to increase the public’s understanding of what attractions offer. Some household names boast very high awareness but very low understanding of what a visit actually involves. A lack of understanding of what happens when you walk through the door is a big issue when trying to attract people who may already have internal barriers around visiting. Heritage sites in particular need to communicate their offer more clearly.

A further area for development is communicating the fact that an attraction is family-friendly. Our findings revealed a number of family-friendly venues that people stated they were familiar with, but didn’t think they had a family offer. This will be driven by perceptions rather than product and some perceptions are driven by the type of venue rather than the venue itself.

Cutting past sector perceptions – as National Trust and English Heritage have done in the Heritage sector – is important. One attraction that has done this well is Eden Project – overcoming traditional perceptions of botanic gardens to be ranked in the top 12 most perceived family friendly attractions – Top 5 amongst residents of the South West.

In summary, people are concerned about their finances and the sector will inevitably be hit, but some attractions will be insulated and there are opportunities there – not just to protect your market, but to grow it too.

Photo: BVA BDRC

"If theme parks, zoos and farm attractions can communicate their role in boosting mental health, that’s likely to help as people choose where to make cuts to their spending" – BVA BDRC’s travel and culture director, Jon Young

Gardens and country parks are seen as being good for mental and physical health Credit: Photo: National Trust Images/Arnhel de Serra
Theme parks were high up on the list of attractions visits people might cut back on Credit: Photo: Merlin Entertainments
Clearly communicating a family-friendly offering is vital Credit: Photo: Merlin Entertainments
Even some of the most iconic attractions have never been visited by a large proportion of the UK public Credit: Photo: Phil Richardson
Heritage sites need to communicate their offer very clearly Credit: Photo: Historic Royal Palaces
LATEST NEWS
“We finally have a space worthy of our collection”: V&A launches huge new Photography Centre
Coronation Street experience gets investment ahead of reopening
The popular Coronation Street Tour in Manchester, UK, has been expanded into a brand new visitor attraction that will open to the public next month.
NWTO: Mountain tourism now accounts for up to 16 per cent of international tourist arrivals
Mountain tourism represents between nine and 16 per cent of all international tourist arrivals worldwide as people head for sport, health and wellbeing travel.
Vikings gather for TEA’s SATE Europe conference at Europa-Park
Therme Group planning flagship US facility in Washington DC
Global wellbeing organisation Therme Group US and Washington DC Mayor Muriel Bowser have signed a deal to work together toward identifying a site for a new Therme facility.
RWS reveals new name, creates a 'powerhouse team' with JRA, Ted and ARC
RWS Entertainment Group, based in New York City, has relaunched as RWS Global to create one 'powerhouse team'.
Ukrainian war museum among winners of Museums + Heritage Awards
The winners of this year's Museums + Heritage Awards have been revealed, with the National Museum of the History of Ukraine in the Second World War receiving a Judges’ Special Recognition Award for "documenting history in real- time".
Ecorecreo reveals more details about Aquarium de Montréal
A 'world-class' aquarium, offering visitors 'spectacular habitats' and unique, immersive exhibits will open in Canada in 2024.
Countdown begins for the opening of the world's largest multi-species aquarium in Abu Dhabi
Set to launch on 23 May, SeaWorld Abu Dhabi will feature eight different realms offering immersive experiences – as well as dynamic habitats housing different species together, as they are in their natural habitat.
Bjarke Ingels among finalists chosen in design competition for National Museum of the United States Navy
Five prominent architectural practices have revealed their designs for the planned new National Museum of the United States Navy.
Young V&A, designed with and for young people, to open in July
A museum dedicated to children will open its doors in London, UK, on 1 July 2023.
Universal Parks & Resorts rebrands as Universal Destinations & Experiences
Universal Parks & Resorts has undergone a rebrand to "better reflect" the changing nature of its offerings.
+ More news   
 
COMPANY PROFILES
Alterface

Alterface’s Creative Division team is seasoned in concept and ride development, as well as storyte [more...]
Painting With Light

By combining lighting, video, scenic and architectural elements, sound and special effects we tell s [more...]
Red Raion

Founded in 2014, Red Raion is the CGI studio specialized in media based attractions. [more...]
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
+ More profiles  
FEATURED SUPPLIER

How two water rides are creating refreshing adventures in Vietnam’s biggest theme park
Aiming to become a top entertainment destination in southern Vietnam for both domestic and international tourists, VinWonders Phú Quốc opened in 2021 as the biggest theme park in the country. [more...]
VIDEO GALLERY

Red Raion - Testimonial Richard Needham - SimEx-Iwerks Entertainment
Last July 7th, Red Raion took part in the opening event of FICO Eataly World, the Italian theme park dedicated to food - the only one worldwide! Find out more...
More videos:
+ More videos  

CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

24-26 Oct 2023

ASEAN Pool & Spa Expo

IMPACT Exhibition Centre, Thailand
24-27 Oct 2023

Synergy - The Retreat Show

Palmaïa, The House of Aia, Playacar, Playa del Carmen, Mexico
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2023

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS