£3bn to be spent on festivals this year

Covered mag, presented by Gocompare.com
  • | by Kristian Dando

Over 18 million people are set to go to a festival this year, with the average person spending £187.30 on tickets and spending money, according to a new survey from Post Office Home Insurance.

In fact, some people were expecting to spend up to £550 on going to a festival. If anything, these statistics seem conservative – the average price of a ticket of this year’s Glastonbury would have cost nearly £200 on its own. In fact, costs have become so prohibitive that one in five 18-24 year olds said they wouldn't be able to attend their favourite festival this year because of the high costs.

Contrary to popular belief, these events aren't just for the young. One in five people aged 45-54 plan to attend a music festival this summer. They aren’t quite as committed as their younger counterparts - only seven per cent of these will stay overnight in a tent or caravan, compared to 21 per cent of those aged 18-24.

Most people will be taking some sort of gadget with them, too. Three quarters of people will be taking a digital camera to document their weekends, while nine per cent of people would consider taking a laptop with them.

Head of home insurance at Post Office, Gerry Barrett, said: "People are already spending hundreds of pounds on events this summer, so it is wise to avoid facing further financial demands by making sure any valuable items are fully protected against loss, damage or theft. “Leaving high value goods such as laptops or iPads at home is probably the safest approach,” he continued. “But for anyone who can't face the idea of living without their favourite gadget, we'd recommend they check their home or travel insurance policies to see what personal possessions are covered."