UNITED KINGDOM - The value of the UK's "pink pound" was revealed today by a survey estimating gay workers earned more than £70 billion last year.Research showed the gay and lesbian community had a high disposable income, spending more than £3 billion on tourism in 2005, around £1.9 billion on clothing and more than £1 billion on mobile phone bills.
It also revealed the UK's three million gay and lesbian citizens spent more than £800 million on CDs and £843 million on DVDs.
The study by market research firm Out Now Consulting for Gay Times and Diva magazines claimed to be the first of its kind including lesbians as well as gay men.
The average income of those questioned was £24,783 for women in full-time employment and £34,168 for gay men.
Ian Johnson, managing director of Out Now Consulting, said: "The gay market is big business.
"Now that the market is able to be accurately measured, more companies are developing marketing plans to better position their brands to attract gay and lesbian customers."
He said a number of major UK firms had shown interest in the spending power of the gay and lesbian community, saying: "These companies are assessing their products, their communications and their distribution strategies to improve their gay market positioning."
More than 1,000 readers of Diva and Gay Times magazines were questioned between March and October of last year.
from Manchester Evening News
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