Irish spending soars in holiday destinations abroad

Bank of Ireland’s debit and credit card analysis for April has revealed spending increases of over 100% by Irish consumers in Greece, Turkey and Portugal

Spending in Greece rose by 162% last month, while spending in Portugal and Turkey doubled compared with the levels seen in March.

Irish consumers are back trotting across the globe, with spending up by more than 100% in a number of foreign holiday spots last month.

Bank of Ireland’s debit and credit card analysis for April has revealed spending increases in a number of popular holiday destinations.

Spending by Bank of Ireland customers in Greece rose by 162% last month, while spending in Portugal and Turkey doubled compared with the levels seen in March.

Irish holidaymakers also spent 45% more in Spain and 35% more in Italy.

At home, experiences were on the rise, with trips to tourist attractions and exhibits up 65% last month and spending in cinemas up nearly one quarter.

However, overall spending levels were down 2% from March. 

Co Longford recorded the only spending rise (0.4%) and Co Cavan residents spent 4% less in April than they had in March. Spending was down 2% in Cork and Dublin.

The March bank holiday led to a major spike in spending in restaurants and pubs, which dipped again last month.

“April’s spending painted a mixed picture across the economy, with social spending levels declining whilst spending in a number of European countries and in travel agents rose,” said Jilly Clarkin, Head of Customer Journeys and SME Markets at Bank of Ireland.

“We can also see from our research that spending was flat or down in April across every age group, except amongst teenagers, who posted an 8% spending spike.” 

It wasn’t all bad news, especially for retailers, with spending on clothing and sporting goods up 9%.

“We are also seeing an interesting trend emerge following the gradual reopening of shops nationwide as the public health restrictions are lifted,” said Ms Clarkin.

“A clear pattern over the past three months shows us that the ‘In-Person’ percentage of overall spend continues to climb (57% in February, 58% in March, 60% in April), leading to continuous drops in online spending.

“It’s a positive sign for retailers across the country, that people are getting out and about again to visit their neighbourhood shops and putting more money back into their local economies.”