New year plans push health spending higher

Aussies will spend more than $200 million on weight-loss programmes and gyms in the New Year, a study has found.

Market researcher Ibis has forecast that the new-year health drive will see $112 million spent on the weight-loss industry in January – about 15 per cent of the sector’s annual revenue, the Australian reports.

New gym memberships, meanwhile, are expected to account for $93 million.

Ibis World general manager Robert Bryant told the news provider that improving consumer sentiment and the positive economic outlook meant that more people would be willing to spend money on improving their health in 2010.

The cost of weight-loss measures will encourage bank customers to compare savings accounts in search of the best deals for their money. A recent report by News Limited found that banks are currently competing for customer deposits by offering high interest savings rates and high term deposit interest rates.

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