UK: Rebound in travel spend vastly outstripping other sectors
Further evidence that Brits are proving extremely reluctant to give up their holidays, despite the challenging economic environment
Spending on travel - particularly with travel agents - is continuing to rebound faster than all other areas of non-essential spend according to new data from Barclays, despite the ongoing cost of living squeeze.
Key takeaways
- Consumer card spend on travel grew by 24.3% year-on-year in March, the single biggest increase of any of the 13 main sectors tracked by Barclays;
- The uptick for travel was even more pronounced in terms of spending specifically with travel agents, which is up by 30.1%, and with airlines, up by 28.5%;
- Travel also enjoyed the second highest year-on-year rate of transaction growth in March, 10.5%, with only motoring transactions running ahead (11.4%).
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