United Kingdom
United States
Asia Pacific
Travel spending declines as inflation bites
The high cost of living is starting to impact households ’spending power on non-essentials like overseas holidays.
Barclaycard spending data showed a 1.6% rise compared to last month but there was a marked drop in travel spend.
Spending fell nearly 4% at travel agencies and 3% at airlines, Barclaycard said.
“Inflation continues to have a noticeable impact, forcing shoppers to spend more on essential everyday items and cut back on some discretionary experiences such as holidays abroad,” said osé Carvalho, head of consumer products at Barclaycard.
Sales volumes in travel and other non-essential products are seeing much larger declines due to near double-digit inflation.
Airfares are up about 30% due to high demand and passenger caps.
Staycation popularity has driven higher spend in the domestic hotel sector category, which grew 2% in June.
Related News Stories:
Ray Monty
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Unexpected wave rocks cruise ship
Storm Lilian travel chaos as bank holiday flights cancelled