Despite tight economic times, members of Generation Y are bucking the trend and opening their wallets, a new survey shows.
A trends index survey of 1,230 Australians aged 18 to 64 found consumer spending had slowed compared to the same time last year.
However, it found 31 per cent of those aged 18 to 24 were now spending more on going out than in 2007.
The survey also showed 33 per cent of the same age group were spending more on new technology such as iPhones than 12 months ago.
"With so many Gen Y'ers still living at home with mum and dad, it's not surprising they are less affected by an economic downturn in comparison to home owners and young families," trend forecaster Leading Edge's Sydney chief executive Karen Phillips said.
"And the cooking skills they have been taught at home have well and truly come to waste with 29 per cent spending more on takeaways".
Overall, Australians are reining in their going out expenses, with 38 per cent spending less on "leisure pursuits", the survey found.
The reasons given for spending more time at home by those respondents were a lack of money and higher petrol prices.
But the survey also revealed those living in metropolitan areas were also spending more on jetsetting around the world.
Thirteen per cent of people are spending more on overseas holidays than they were in 2007.
