Gay men less likely to cut spending

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A new survey shows that gay men are less likely to cut back on spending due to the economy than heterosexuals or lesbians. The online Harris Interactive poll indicates that in several categories, gay men report being less affected by the looming recession.

According to the survey, 55% of American adults, 55% of heterosexuals, and 55% of gay men expect to be affected by the economy, while 75% of lesbians express the same. When it comes to categories of expenses, though, the differences are more pronounced.

For example, 45% of gay men are likely to reduce entertainment-related spending, with 61% of lesbians and 51% of heterosexuals reporting the same. On taking a vacation of more than a week in the next six months, 32% of gay men said that they were likely to do so, compared to 24% of lesbians and 28% of straight people.

However, a greater percentage of gay men and lesbians — both 60% — than heterosexuals — 56% — said they were likely to reduce spending on gifts during the holiday season.

The survey of 2,449 Americans over the age of 18 was conducted in October and included 232 self-identified gay men and lesbians.

Read the full story from the Advocate.

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