Dublin: In July, spending in pubs and off-licences dropped by 10% and in restaurants by 6%, while hotel spending rose by 7%, according to AIB’s latest Spend Trend study. The increase in hotel spending exceeded last July’s 4% rise, likely due to the busy summer season, despite a decline in pub spending possibly linked to one fewer weekend in July compared to June.
The 35-44 age group led hotel spending, followed by 45-54 and 25-34 year-olds, with July 26 marking the year’s highest hotel spending day. Overall spending was steady month-on-month and up 9% year-on-year, driven by inflation and economic growth. Notably, July 20 saw the highest cinema spending of the year, fuelled by major movie releases. Irish tourists in France, influenced by the Olympics, set a record for AIB card transactions, with restaurants and groceries as top spending categories.
EV charging saw an 8% increase from June and 45% year-on-year, while electronics and health, and beauty spending also grew. Adrian Moynihan, AIB’s Head of Consumer, highlighted the importance of these spending trends for businesses and their role in supporting the transition to a lower-carbon future.
Irish Samachar English News
{OR} Kindly click to follow the Irish Samachar News channel on WhatsApp