When we spend it

A new reports has examined exactly how Britons spend their hard-earned cash and found that city dwellers have now adopted a four-day weekend.

12:20 11 August 2004

A new report has examined exactly how Britons spend their hard-earned cash and found that city dwellers have now adopted a four-day weekend.

The "urban weekend", starting Thursday and finishing in the early hours of Monday, is the new way of life in many cities, according to research from Lloyds TSB.

A new report from Lloyds TSB Plus account, "Urban Spenders", reveals that many city dwellers are choosing a four-day weekend, with Sunday fast becoming the most popular day/night to hit bars and clubs.

This is the case in eight out of ten UK cities, meaning that except in Scotland, Sunday is now the least favourite day to go food shopping.

However, in London Friday night is the most popular night of the week to go out on the town, with one in five (20 per cent) of the city's transactions in bars and nightclubs happening on this day/night.

Sociology researcher at Oxford University, Alison Smith, commenting said: "Regional differences in urban spending might be caused by what economists call 'a selection effect'.

"Those who wish to pursue a particular lifestyle choose the city accordingly; it is not that the city chooses them."

In Edinburgh, very few takeaways are bought during the week which means the weekend is the time for staying in, something which is confirmed by the fact that only eight per cent of bar spending occurs on a Saturday.

Lisa Stephenson, head of business development and marketing at Lloyds TSB Scotland, commented: "The trend towards a four-day weekend in the UK's big cities certainly spells good times ahead for pubs, bars and restaurants but it puts an even bigger strain on urbanites' wallets."