August hospitality spend jumps
The hospitality sector witnessed an August spending increase of 29% overall, with restaurants enjoying a rise of 37% during the month, followed by pubs at 32% and fast-food outlets at 17%.
The hospitality sector witnessed an August spending increase of 29% overall, with restaurants enjoying a rise of 37% during the month, followed by pubs at 32% and fast-food outlets at 17%.
The domestic accommodation sector also enjoyed a bumper August with total debit and credit transactions rising on a monthly basis by 20% with ‘staycations’ leading the way, according to Bank of Ireland spending data.
Popular tourist hotspots like Clare (up 33%), Waterford (up 24%), Donegal (up 32%) and Kerry (up 28%) all saw big accommodation spending lifts within their counties as the warm weather sustained for most of the month.
Spending on car rentals rose by 34% in August, as people criss-crossed the county to avail of leisure and activity options that had been closed-off for so long.
Somewhat surprisingly perhaps, travelling to the UK did not appeal to as many in August, with overall spend there rising by only 28% last month.
But many people were still keen to take off to foreign parts during the period in question as airline spending rose by 47%. Bank of Ireland spending data reveals that ‘in-store’ card transactions rose in Portugal during August by 110% on a monthly comparative basis, followed by Spain (up 107%) and Italy (up 101%).
People aged 65 and over recorded a significant social spending rise of 32% during the month, illustrating increasing levels of comfort with the gradual reopening of society.
And as the last adult cohort to be offered the vaccine it will come as no surprise to many that the 18 to 25 age group powered on in August, recording a social spending spike of 28% as they were able to avail of the jab and could resume parts of their lives that had been placed on hold. The next youngest cohort, the 26-35 year-olds, continued this theme – recording a spending rise of 15%.
“The further opening up of the hospitality sector at the end of July was a very welcome development for businesses across Ireland and also their customers who hadn’t had a meal or a drink inside an establishment for a considerable period of time,” commented John O’Beirne, Director of Business Banking at Bank of Ireland, who added, “It’s a positive indicator for the domestic hospitality industry that once they were able to open their doors vaccinated customers were keen to walk back through them.”
Bank of Ireland debit card and credit card transactions – August 2021 versus July 2021
| Up |
| Education +198% |
| Restaurants +37% |
| Car Rentals +34% |
| Bars +32% |
| Accommodation +20% |
| Entertainment +12% |
| Clothing +9% |
| Transport +7% |
