Double Bank Holiday sparks surge in domestic travel, spending

The recent double bank holiday weekend led to a surge in both domestic travel and socialising, according to analysis from Bank of Ireland. 
Double Bank Holiday sparks surge in domestic travel, spending

James Cox

The recent double bank holiday weekend led to a surge in both domestic travel and socialising, according to analysis from Bank of Ireland.

The analysis included the period from March 14th to March 19th.

Transactions on the country’s toll roads and bridges rose by 119 per cent while spending in pubs and restaurants rose by 39 per cent and 14 per cent respectively when compared to the same period the previous week. Fast food outlets also recorded a bank holiday spending spike of 12 per cent.

Mirroring the increase in social spending, in a bumper week of sport gambling spend also rose by 56 per cent during the bank holiday period.

Commenting on the double bank holiday spending patterns, Jilly Clarkin, head of customer journeys and SME Markets at Bank of Ireland said: “The double bank holiday was always likely to spark an uptick in consumer activity. The spending data absolutely confirms this, with domestic travel rates rocketing along with a strong surge in socialising in pubs and restaurants.

“Our spending analysis also indicated that for many consumers, experiences were more important than possessions last week. While we saw a clear travel and social spending surge, clothing spend actually fell by 4% in the same period with supermarket spending staying relatively flat week on week.

“This all points to the likely fact that having been denied personal interactions for so long due to the pandemic many people prioritised time with friends and family over the St Patrick’s Day break.”

BoI debit card transactions and spending: March 14th-19th 2022 vs March 7th-12th 2022

Up

Road tolls & Bridges: +119 per cent.
Bookmakers/Casinos: +56 per cent.
Pubs: +39 per cent.
Restaurants: +14 per cent.

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