Valuing subjective well-being benefits from leisure activities: informing post-Covid public funding of arts, culture and sport

Abstract

The Covid-19 pandemic has significantly impacted the leisure sector as lockdowns and social distancing resulted in a temporary shutdown. Using large-scale UK social survey data from two waves of Understanding Society, we employ the life satisfaction valuation method to provide estimates of monetary values of the subjective well-being benefits of leisure activities. We find that well-being benefits to life satisfaction from arts events, visiting museums and moderate sports have a significant monetary value. The value of some leisure activities to domains of satisfaction is higher compared with life satisfaction. The value to leisure satisfaction is particularly high, especially arts activities. Well-being benefits of moderate and mild sport are particularly high for health satisfaction. Meanwhile, activities which involve social interaction, including arts events and moderate sport have greater relevance to job satisfaction. These findings evidence the value of leisure activities, informing arguments for public funding to support and aid recovery in the sector.