The latest Bank of Ireland Spending Pulse has found that tourist attractions proved popular in August near the end of the school holidays.
The pulse shows that debit and credit card spending in August 2023 was broadly flat (+0.4%) when compared to July’s spending.
Tourist Attractions
There was a spending spike at tourist attractions (+19%) and amusement parks (+11%) as families sought out some fun during the final few weeks of the school holidays.
The pulse shows that spending in the accommodation sector throughout August dropped by 4%, while social spending also fell (-8%) following a positive bump for that sector in July.
Restaurants And Pubs
Total outlay in restaurants fell by 5%, pub spending dipped by 4% and people spent 3% less in fast-food outlets.
Bank of Ireland said domestic spending didn’t translate to a hike in overseas outlay either, with popular European destinations like France (-20%), Portugal (-18%), Italy (-16%), Greece (-15%) and Spain (-13%) all recording spending drop offs.
'Clear Levelling Off'
“We saw in July that people flocked indoors to escape the wet weather, and hope sprung that a brighter August would spark a spending rebound," said Jilly Clarkin, head of customer journeys & SME markets at Bank of Ireland.
"However, a mixed month weather wise saw flatlined spending across a variety of sectors, although tourist attractions proving popular and families ‘suited and booted’ the kids for the return to school.”
“The Bank of Ireland Spending Pulse painted a mixed picture over the summer months, with a drop in June being followed by a slight hike in July, and a clear levelling off in August."
