Discretionary spend squeezed in London
The Resolution Foundation reports that household incomes are, on average, 2.9% higher than before the financial crash in 2008. Greater discretionary spend available for expenditure on travel and tourism?
No. When the costs of housing are factored in living standards in London have fallen by 3.9% since 2008.
The Resolution Foundation calculates that nationally median income is roughly 3 per cent higher than in 2007-08, standing at around £24,300.