Create a 9 pages page paper that discusses business opportunities in the leisure goods and activities industry. This research will begin with the statement that leisure goods and services are one of the sectors with the fastest level of growth in the UK. However, Business Link further points out that spending on recreation and leisure is discretionary, varying in line with disposable income, and that the sector responds quickly to recessionary pressures. It is for this reason that expenditure in the industry is highest where consumers are able to devote time and money to leisure activities and goods. Business Link also indicates that the key drivers for this sector include:
- inexpensive air travel.
- the aspirations for higher lifestyle and increasing disposable incomes
- Increasing opportunities in countries experiencing increases in disposable incomes but where the sector is still in the developmental stages, for example, Eastern Europe.
This industry has the ability to increase employment, attract revenue and therefore drive domestic development in the UK. The paper indicates that the total expenditure increased every year over the six-year period. However, the percentage increase varied. The total expenditure increased by 3% in 2003, 4.2% in 2004, 3.7% in 2005, 2.5% in 2006, and 4.1% in 2007. The food and drink the sector with the highest expenditure accounting for 41% of the total expenditure in 2002 and 2007. This sector was followed by family outings and holidays with 23% in 2002 and 25% in 2007. The culture sector was the sector with the lowest expenditure showing a mere 4% in 2002 and falling to 3.5% in 2007.