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Guess who's still spending money
Discretionary expenses are the first to go in economic downturns, with luxuries such as travel being relegated to ‘let's put that on hold for a while'. Yet despite the recession biting on the heels of many South Africans, the GLBT (gay, lesbian, bisexual, transgender) sector of society is still spending money on travel.
Morne Ebersohn from Pink Advertising explains with larger disposable incomes resulting from dual income no children households, the recession won't necessarily slow down this market sector, GLBTs may just change their behaviour and look at travelling within South Africa or southern Africa.
“During a survey we conducted to profile this sector of the market, 97% of the sample respondents indicated they go away on holiday, with Cape Town being the favourite destination - followed by Durban, Europe and the UK,” says Ebersohn, who also heads up Pink Advertising.
With an average personal income of R24,080 per month, five times the average income in South Africa, most of the respondents travel by plane (66.32%) and will hire a car upon arrival at their destination.
“High earners with a taste for luxury goods and services, this market sector, which accounts for 6% to 8% of the population, will often pay cash and are among the top earners.”
