Big surge in travel and holiday spend intentions

There has been a recent surge in the number of Irish consumers intending to spend on summer holidays.

Consumer intent to spend on travel and holidays has surged in the last six weeks, or so, as anxiety surrounding Covid’s health and financial impact has started to wane.

Between the end of March and the end of April – as the first easing of restrictions this year approached – there was a 19% jump in consumers looking to spend on holiday plans.

Deloitte’s latest monthly consumer survey said that concerns over job losses fell 9%, while confidence about revisiting shops and restaurants is on the rise.

The survey found that anxiety levels among Irish consumers are currently at their lowest level in a year.

"The fact that consumers’ financial concerns are starting to ease in line with health concerns is particularly welcome, as many whose incomes have been impacted anticipate a return to work in the near term,” said Deloitte Ireland’s Daniel Murray.

Financial concerns were also down, with consumers’ concerns around making upcoming payments down by 7% and a 4% decrease in those who said they were delaying large purchases.

In terms of holiday intentions, the survey showed a 10% jump in the level of people intending to stay at a hotel inside the next three months, with an 8% jump in those looking to stay in private accommodation.