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Coastal locations see increased spending in May - Bank of Ireland

Debit and credit card spending in May rose by 18% compared to April, new figures from Bank of Ireland show today
Debit and credit card spending in May rose by 18% compared to April, new figures from Bank of Ireland show today

New figures from Bank of Ireland show that debit and credit card spending in May rose by 18% when compared to April.

The bank's latest Spending Pulse shows an increase in spending with retail expenditure up by 21% and social spending increasing by 16%.

Today's figures show that people flocked to the country's sun spots in May and spending in locations like Howth were up 30%, while Enniscrone saw an increase of 28%.

Spending in Dunmore East was also 21% higher with Rosslare and Lahinch also seeing rises of 13% and 6% respectively.

Bank of Ireland said these seaside locations all saw an influx of visitors, while boat rentals sailed 70% higher, sales in tent shops rose by 54% and spending on bus transport went up by 29%.

The retail sector also saw a rebound from a somewhat subdued April by posting a 21% spending increase in May, as clothes spending went up by 25% and groceries increased by 22%.

Bank of Ireland also said the social sector entered the summer months on the front foot, with pub expenditure climbing by 26%, spending on fast-food going up by 19% and restaurant outlay growing by 18%.

It also noted that car owners filled up their tanks ahead of a fuel price rise at the start of June, with outlay on fuel rising by 51% in the week leading up to May 31 compared to the previous week.

Jilly Clarkin, Head of Customer Journeys & SME Markets at Bank of Ireland, said the sustained spell of sunshine Ireland enjoyed in May was a welcome relief and provided a boost for retailers.

"Spending on motor homes rose by 17% compared to April as people hit the highways and byways, whilst cinema spending dropped by 24% - so the contrast paints a very clear picture," she said.

Bank of Ireland also said that accommodation spending was up 14%.

"The yearly comparison for May shows how spending levels soared in coastal locations, so it's likely that we'll continue to flock to the beaches, lakes and camping grounds over the coming months if the fine weather lasts," she added.