In the News
Patterns of Spending - Demand for Camping and Caravans Surges
Changing consumer tastes, income elasticity of demand, it's all here - with the news that the pandemic has seen a rise in camping, with 20% of adults having been on a camping or caravan holiday since the start of lockdown.
This mirrors what happened after the global financial crisis, suggesting that camping might be an inferior good - i.e. the quantity of camping demanded rises when incomes fall. That said there is plenty of high-price camping equipment out there and a surging online community sharing tips and ideas.