Spending In Irish Hospitality Venues Increased In July
According to the AIB Spend Trend, spending in Irish hospitality venues increased in July. As reported by The Irish Independent, spending in hotels increased by 30% last month, while spending in pub...
According to the AIB Spend Trend, spending in Irish hospitality venues increased in July.
As reported by The Irish Independent, spending in hotels increased by 30% last month, while spending in pubs increased by 28% and spending in restaurants increased by 10%, according to the AIB Spend Trend.
Average Spend Per Hour
Consumers reportedly spent an average of €395,000 per hour in pubs and restaurants throughout July.
The Day That Indoor Hospitality Services Resumed
On the day that indoor hospitality services resumed for individuals who are fully vaccinated against COVID-19 and individuals who have recovered from the virus, Monday July 26, consumers reportedly spent over €6 million an hour in shops and businesses.
The border counties reportedly recorded the biggest increases in restaurant spending last month, with restaurant spending in counties Donegal, Monaghan and Leitrim reportedly increasing by 15% increase compared to June, and restaurant spending in Co. Cavan reportedly increasing by 14%.
Spending On Airline Tickets
Meanwhile, spending on airline tickets reportedly increased by 19% last month as international travel from Ireland resumed.
Overall Consumer Spending
Overall consumer spending reportedly increased by 1% last month compared to June.
Busiest And Quietest Days For Spending
The busiest day for spending last month was reportedly Friday July 30, when over € 8 million an hour was reportedly spent in shops and businesses, and the quietest day for spending was reportedly Sunday July 18.
Head Of SME Banking At AIB Statement
The Irish Independent quotes head of SME banking at AIB John Brennan as saying, "The good weather in July, combined with the reopening and increased rollout of the vaccine, has seen consumer spending in the hospitality sector continue to rise for another month, which is positive to see.
"Despite the return of international travel in July, consumers spent 30% more on hotels than the previous month, indicating many are still opting to stay in Ireland for their holiday this year - a positive development for businesses right across the country."
AIB Spend Trend Information
The above data was reportedly compiled from AIB debit and credit card spending from over 56 million transactions that took place between July 1 and July 31.
To account for the difference in the number of days in each month, the AIB Spend Trend reportedly looks at average daily spending rather than monthly totals, providing an accurate reflection of consumer habits.
Revolut Spending Statistics
Meanwhile, new statistics from banking services firm Revolut have revealed that Revolut card spend in drinks venues increased by 24% last month compared to June, while spending by Revolut users in restaurants also increased by 24% last month compared to June.
The statistics indicate that Revolut card spend in restaurants and pubs increased by 43% year-on-year last month, and average monthly spend increased by 10% last month compared to June to €88.60.
The number of people who used Revolut in drinks venues increased by 14% last month compared to June, while the number of people who used Revolut in restaurants increased by 8% last month compared to June.
Spending by Revolut users in restaurants increased by 13% year-on-year last month, and the average monthly Revolut card spend in restaurants increased by 15% last month compared to June to €82.20.
© 2021 Hospitality Ireland – your source for the latest industry news. Article by Dave Simpson. Click subscribe to sign up for the Hospitality Ireland print edition.