- Big Night In’ trend continues with three out of four UK adults (78 per cent) opting to stay home
- One in six of us (17 per cent) spending the evening alone
- For those entertaining, damages from house parties will add £71 to cost of the evening
- 18-34 year olds are set to be the biggest New Year’s Eve spenders
Over three-quarters of UK adults (40 million) expect to welcome 2017 in from the comfort of either their own home or that of friend or family member, according to Post Office Money Home Insurance’s annual New Year’s Eve report.
There are various ways revellers in the UK are planning to spend their ‘Big Night In’: one in four (27 per cent) are set to spend a cosy night in with their partner, while seven per cent will either host or attend a dinner party. A similar amount will be seeing in the New Year at a house party (seven per cent). One in six (17 per cent) will opt out of socialising altogether, seeing in the New Year solo.
Those looking to host a party at home will spend £111 on average, this compares to those heading out to a pub, restaurant, or nightclub who will spend £107 on average.
With one in ten party hosts (13 per cent) experiencing damage to their home at a New Year’s party last year, the real cost of staying in could be significantly higher than heading out. The average cost of the various breakages set party hosts back an additional £71.
The most common accidents last New Year’s Eve were spilled food or drink on the carpet (44 per cent), broken crockery (27 per cent), and damaged furniture or technology (35 per cent).
Rob Clarkson, Managing Director at Post Office Money Insurance, said: “New Year’s Eve 2017 will see 40 million people across the UK opting for a Big Night In, rather than planning a night out for when the clock strikes midnight. While some are choosing a stress-free night in with their partner, others are opting for a less quiet affair by hosting friends and family.
“However, celebrating at home isn’t without its pitfalls. Our research has shown damages can be significantly more than your average night out would cost. Anyone considering hosting a party should be sure that they are properly covered for accidental damage to avoid starting 2017 facing a hefty repair bill. We know that one in 10 people who don't want to host a party are put off by concerns about breakages and damage on the night, and having adequate insurance will help to mitigate those risks.”
Overall, the average spend on New Year’s Eve celebrations is set to be £54 per person, which remained the same as last year. The biggest spenders are those aged between 18 to 34 years old, who expect to spend an average of £69 each, whilst a thrifty 11 per cent of the population will not spend anything to celebrate seeing in 2017.
Londoners will spend the most, at an average of £88 per person, with those in the Southampton being the most frugal with their finances, spending significantly less at £34 each.
Christmas spending is also expected to scupper the New Year’s Eve plans of many –with 13 per cent saying their plans are determined by what they can afford. Others will follow the lead of their families and friends (34 per cent).
Notes to Editors:
Research conducted by Opinium on behalf of the Post Office Money between 18 to 22 November 2016. 2,001 online interviews with UK adults (aged over 18). Our sample has been weighted to reflect a nationally representative audience.
- 1,562 out of 2,001 respondents said they planned to spend this New Year’s Eve indoors (either having a quiet night in, partying at home or at a friend’s home). 1562 / 2001 * 51,339,000= 40,075,721 or 40 million UK adults.
- Last year 1,462 out of 2,005 respondents said they planned to spend this New Year’s Eve indoors (either having a quiet night in, partying at home or at a friend’s home). 1462 / 2005 * 50,909,000 = 37,121,675 or 37 million UK adults.
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