skip to main content

Tourist attractions gets spending boost in August - Bank of Ireland Spending Pulse

Spending at tourist attractions jumped by 19% last month, new Bank of Ireland figures show
Spending at tourist attractions jumped by 19% last month, new Bank of Ireland figures show

New figures show that Bank of Ireland debit and credit card spending in August was broadly flat when compared to July's spending, rising by just 0.4%.

The latest Bank of Ireland Spending Pulse reveals that spending at tourist attractions jumped by 19% last month.

Spending in amusement parks also rose by 11% as families sought out some fun during the final few weeks of the school holidays.

It also showed that ahead of the new school year, money spent in bookstores soared by 39%, while spending in shoe shops rose by 11% and spending on children's clothes went up by 5%.

But spending in the accommodation sector during August fell by 4%, while social spending also decreased by 8% after an improvement for the sector in July.

Total outlay in restaurants fell by 5%, pub spending dipped by 4% and people spent 3% less in fast-food outlets.

Bank of Ireland noted that lower domestic spending did not translate to a hike in overseas outlay either, with popular European destinations like France (-20%), Portugal (-18%), Italy (-16%), Greece (-15%) and Spain (-13%) all recording spending drop offs.

Breaking down the figures, Leitrim was the only county to post a monthly spending spike of over 2%, with Donegal, Laois, Longford, Mayo and Wicklow the only other counties to record positive spends - inching just 1% in each of these counties.

Spending by teenagers rose by 8% in August - the biggest increase - followed by the 18-25-year-old bracket with an increase of 3%.

But spending remained flat amongst the older cohorts, with spending amongst the over 45s and over 55s groups dipping from the previous months' levels, Bank of Ireland said.

Jilly Clarkin, Head of Customer Journeys & SME Markets at Bank of Ireland, said the Bank of Ireland Spending Pulse painted a mixed picture over the summer months, with a drop in June being followed by a slight hike in July, and a clear levelling off in August.

"Given that September last year was somewhat gloomy on the spending front ( down 8% compared to the previous month), retailers nationwide will be hoping for sunnier spending times on the horizon," she added.