The data was compiled from over one million anonymised card transactions by Allied Irish Bank consumers here during May.
Based on this data, AIB, which provides one of the most comprehensive and accurate data sets on consumer spending in Ireland, can reveal that consumer spend on hotels fell by over €4 million in May – an 8% decrease on April. But consumer spending on airline travel during May rose 24% following the lifting of international travel restrictions.
Overall, spending was up 4% in May compared to the previous month as consumers spent almost €84 million a day throughout the month and that the 27th of May – the day after pay-day for most people – was the busiest day of the month for consumer spending.
“As we enter the first Summer with significantly reduced restrictions on travel, we’re seeing Irish consumers take advantage of this opportunity,” observed John Brennan, AIB’s Head of SME Banking, “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.
“Spend in these sectors is still multiple times higher than it was during this time in 2021.
“Separately, overall consumer spending was up 4% in May as consumer spending remains steady, with digital wallet payments up 7% showing how increasingly popular the cashless payment method is becoming with consumers now spending over €11 million a day by tapping their phones. This is equivalent to one in every eight €uro during the month being spent via a digital wallet.”