Leisure is poised to account for nearly a quarter of total consumer spending by 2030, according to PricewaterhouseCoopers (PwC).

PwC's latest UK Economic Outlook reported that household spending on recreation had increased by 3.5 per cent between 1963 and 2009. Consumers have increased their spending on restaurants and hotels during the same 46-year period by 0.4 per cent, which is expected to continue growing in the coming two decades.

PwC said that the increases in 'superior goods' such as hospitality and recreation will be in part due to an ageing population, while spending on 'essential goods' will decrease. Overall, household spending is expected to grow by 1 per cent in 2011 compared with 2010 - "lagging behind" an anticipated increase in gross domestic product (GDP).

PwC chief economist John Hawksworth said: "This reflects the squeeze on household spending power from continuing credit constraints, rising energy, petrol and food prices and tax increases." "As spending shifts further towards leisure, recreational or more indulgent activities, new uses for existing space will develop," added UK retail and consumer leader Mark Hudson.