Spending tracked on AIB card transactions show a sharp rise in international travel last month, and a fall back in spending on hospitality at home, the bank said.
Total consumer spending on its cards rose 4% in May from April, with purchases of airline tickets rising by a significant amount, while consumption fell in hotels and in pubs at home, and was all but unchanged in restaurants, according to the AIB figures.
Consumption tracked on its cards was mixed in other areas. Spending on clothing and hardware and homewares, as well as health and beauty, increased in May from April, but was unchanged for electronics and groceries, the bank said.
“As we enter the first summer with significantly reduced restrictions on travel, we are seeing Irish consumers take advantage of this opportunity,” said John Brennan who is head of SME Banking at AIB.
“The hotel and pub trades saw a decrease in spending in May, but it should be noted that this reduction was expected since the Easter break, which drives domestic demand, fell on the previous month."
AIB said the figures are based on 1 million card transactions in the month.