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The cost of living crisis continues to affect the spending habits of millions of households, and MoneyTransfers.com has continued our research to help Brits find out just how much money they could saveby reducing or quitting certain expenses altogether. Here, we reveal that households could save over £700 a year by swapping meals out with home cooked dinners.
Jonathan Merry, CEO of MoneyTransfers.com, comments:
“It’s no surprise that dining out has been one aspect of many people’s budget to be cut down on in order to save more money. However, some households may be surprised at just how much they could save by eating out less often.
Of course, on the flip side to this data is the impact less people dining out is having on food services and businesses within the UK. We already know that the pandemic and subsequent lockdowns had a devastating impact on the hospitality industry – could the cost of living crisis be the final blow?”
How Much Do Brits Spend At Restaurants/Eating Out?
In 2021, the annual expenditure by households in the United Kingdom on restaurants, cafes and other food outlets increased to 87 billion.
In the financial year ending 2021, the average household spend in the UK on restaurant and café meals was estimated to be £14.60 per week. Compared to the previous year, spending on restaurants and hotels was 65% less (many food businesses were temporarily closed during lockdowns in 2020/21).
Average Restaurant Spend Per Region
The highest spend on restaurants and cafe meals by region is in London, with an average weekly spend of £18.30. This is closely followed by the South East, spending an average of £17.60 per week. At the other end of the scale, the North East has an average weekly spend on restaurants of just £12.30, while Scotland is only 10p higher at £12.40.
| Region | Average Weekly Restaurant Spend |
|---|---|
| London | £18.30 |
| South East | £17.60 |
| South West | £15.20 |
| East | £15.10 |
| England | £15.00 |
| UK | £14.60 |
| East Midlands | £13.90 |
| Northern Ireland | £13.80 |
| North West | £13.60 |
| Wales | £12.60 |
| Yorkshire & The Humber | £12.50 |
| Scotland | £12.40 |
| North East | £12.30 |
| West Midlands | £12.30 |
What’s The Average Cost of a Meal Out in the UK?
According to Numbeo, the cost of a three-course meal for two people at a mid-range restaurant in London is estimated to be £65. In contrast, the same meal is estimated to cost £60 in Edinburgh, £50 in Birmingham, and £60 in Cardiff. Of the 15 cities we looked at, the cheapest three-course meal to be found is in Coventry, at an average of £40.
| City | Average Cost of a Meal for 2 |
|---|---|
| London | £65 |
| Cambridge | £65 |
| Liverpool | £65 |
| Edinburgh | £60 |
| Cardiff | £60 |
| Brighton | £60 |
| Manchester | £60 |
| Bristol | £60 |
| Belfast | £60 |
| Bournemouth | £60 |
| Glasgow | £60 |
| Aberdeen | £55 |
| Birmingham | £50 |
| Leeds | £50 |
| Derby | £50 |
| Coventry | £40 |
How Often Do Brits Eat Out?
In data published earlier this year, from a survey by Kitchen Stories conducted in 2019, 39% of respondents revealed that they dine out once a month. 34% of respondents dined out a few times a month, 18% once a week, and 9% several times a week.
However, the cost of living crisis is undoubtedly affecting spending habits such as dining out. A recent study from Forbes Advisor revealed that 83% of Brits are cutting their restaurant spending, while 25% of Brits are ordering less than usual when they dine out.
How Much Could Brits Save By Eating Out Less Often?
If we take the average weekly spend on restaurants – £14.60 – then we can calculate that UK households could save up to £760 per year by cutting back on restaurant spending and opting to eat at home instead.
If we take the average cost of a three-course meal (£60) and apply it to the 9% eating out several times a week – 3 for the purposes of this example – then a small percentage of Brits could be saving up to £180 per week or a whopping £9,360 annually (per couple – £4,680 for one person).
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