Gays beat the credit crunch

Illustrated rainbow pride flag on a white background.

Gay and lesbian consumers are more resilient to the credit crunch than their hetro-sexual counterparts, a new survey suggests.

The Gaydar Spending and Lifestyle survey “Flying and Finance” has revealed that this consumer sector have been largely unaffected by the current economic downturn and have provided a valuable source of revenue for brands.

A total of 1,794 users of the leading personals site were asked just how well they were adjusting to the current crisis as food, fuel and petrol prices continue to soar.

Nearly a half (47. 8%) said the credit crunch was nowhere on their financial radar.

Some 81% have credit cards (up from 74% last year) and hold an average of 3.12 cards each and spend on average £482 a month.

However, 52.1% do pay back the balance in full each month

The report also found that gay and lesbian consumers are not using their cards just to keep financially afloat.

Some 51.6% are still spending on holidays, 47.5% on clothes and 62.3% are internet shoppers (excluding groceries).

More than £75 a week is spent on groceries by 20%, while 44% spend more than £50 a week on groceries.

On average, respondents took 1.46 European holidays (one week or more) in 2007, 1.81 European weekend/short breaks and one long haul holiday.

Nearly half have flown to Spain in the last year and more than a third have travelled to the US in the past 12 months.

EasyJet and BA were voted the top short haul carriers and BA and Virgin Atlantic on long haul routes. spokesman, Simon Johnson told “Gay men usually only have themselves to support.

“Having children is a massive drain on anybody’s bank account.

“Research into the finances of gay men has shown they tend to earn more than their heterosexual counterparts”, he added.