The UK fitness industry could be destroyed by the end of the year amid rising inflation and the cost-of-living crisis, the Financial Times reported this week.
According to the publication, the rapid rise in electricity prices has been pushing fitness-club owners to save money by reducing opening hours, lowering temperatures in their pools and abandoning full lighting.
Also, gym-goers have recently been advised to reduce the time they spend in club showers. Experts calculate that since 2019, electricity prices in the country have increased by 100% to 150%, which has led to mounting debt obligations from fitness centers, especially during the Covid-19 pandemic lockdowns, and may lead to their closure by the end of 2022.
Analysts calculated that due to rising electricity prices, the cost of heating UK pools could rise more than twice by year’s end to £1.25 billion ($1.58), from £500 million ($631 million) in 2019.