REVEALED: What Irish people have been spending their staycation money on

Justin Kelly

Reporter:

Justin Kelly

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justin.kelly@iconicnews.ie

REVEALED: What Irish people have been spending their staycation money on

REVEALED: What Irish people have been spending their staycation money on

Overnight stays, food, drink and attractions - the staycation spending habits of Irish people have been revealed by new research by AIB.

They also show that Cork is the most popular hotel ‘Staycation’ destination nationally, followed by Kerry.

Domestic consumers spent €19 million in the pub, €30 million in restaurants and €28 million in hotels during the month of July. However, spend is still down when compared with July 2019.

The average domestic card transaction in key hospitality sectors is up year on year as Irish consumers staycation this summer and pent-up demand is released.  The data was compiled from over one million AIB debit and credit card transactions up to the 3rd August and has been anonymised and aggregated.

Nationally, the average card transaction in pubs that have reopened and are serving food has increased 50% year on year. This may be as a result of the requirement for a €9 meal to be purchased. Separately, the average card transaction in restaurants is up 17% year on year, with the average transaction in hotels up 16% year on year. Overall, the number of transactions is still down year on year.

Since reopening, those in Monaghan (€40.95) and Kilkenny (€38.28) are spending the most in pubs per card transaction and those in Clare (€28.46) and Donegal (€30.19) are spending the least.

Meanwhile, those in Kildare spent the most per card transaction in restaurants (€27.17), with those in Carlow spending the least (€19.24).

Rachel Naughton, Head of SME Banking, AIB said: “After coming to a complete standstill as a result of Covid-19 we saw encouraging signs within the tourism and hospitality sectors in their first month of re-opening as people were allowed travel and visit hotels, pubs and restaurants again.

"Notably the average AIB card transaction amount in these key sectors is up compared with the same period last year. This can be attributed to pent-up demand and increased preference for card usage. However, although we have seen some early positive indicators these businesses will need vital supports over the next twelve months to get them through this difficult period and help them start recovering from what has been a devastating period for all businesses.”