Revolut Reports Conscious Spending Surge Among Customers
Dublin: Revolut’s customers exhibited ‘conscious’ spending patterns last month, according to figures from the online bank. Maurice Murphy, general manager of Revolut’s UAB Ireland branch, highlighted a notable 15% increase in monthly expenses as customers spent more on weekends and summer holiday preparations.
The June bank holiday, Taylor Swift concerts, GAA quarter-finals, and the Dublin Pride Parade contributed significantly to this surge in spending.
In June alone, over 2.8 million Irish account holders made 55.6 million card payments, marking a 15% increase compared to June of the previous year. Expenditure on taxis, buses, and public transport saw respective increases of 12%, 12.5%, and 4.25%.
Revolut’s data also indicated a rise in visits to bars, cafes, restaurants, and nightclubs, with over a 10% increase in spending in these categories compared to May. Domestic and international tourism trips also saw an uptick, with hotel spending rising by 11%, a 13% increase from last June. Additionally, spending on souvenir shops increased by 16%, tourist attractions by 17%, and car rentals by 35%.
Children’s holiday expenses also rose with the closing of schools, driven in part by the popularity of Disney’s “Inside Out 2,” which became a hit among children.
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