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Travel agents benefit from rising holiday spend
Families spent 8% more on travel and entertainment in July than they did in the same month last year, according to Barclaycard.
The company, which processes nearly half of all UK debit and credit card transactions, said it was the fourth consecutive month of real spend growth.
Consumers spent 8% more on hotels, 4% more at travel agents and 2% more on airline tickets, it said.
They also spent 8% more at UK tourist attractions.
Barclaycard said the uplift in spend has been prompted by consumers’ improved confidence in their finances.
Over half said they felt ‘confident about their personal financial situation’ and believed that it will further improve over the next 12 months.
Nearly one in five said they are planning to spend more on holidays over the next year.
Retailers also benefited from the knock-on effect of families buying holiday clothes, said Barclaycard.
Barclaycard managing director Chris Wood said: "As official figures show that the UK economy has finally recovered to its pre-crisis size, the growth in spending in July is a big boost for retailers after months of lacklustre performance.
"The extra spending on travel and entertainment was not only beneficial to businesses in those sectors but led to strong increases in spending on clothing and at department stores, creating a positive knock-on effect on the wider high street.
"Though it’s still early days, with half of UK consumers saying that they are confident about their personal financial situation, we could well be seeing the start of a spending recovery."
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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