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Boost for hospitality sector as Irish consumers spent more in pubs and restaurants last month, AIB report shows
@Source: independent.ie
According to data compiled by AIB’s Spend Trend – a report based on 67 million card transactions by their customers – people spent 32pc more in pubs last month.
While overall spending only increased by 5pc, it was a good month for hospitality with spending at restaurants up 16pc.
Adrian Moynihan, head of consumer at AIB, said the increased spending was likely driven by the St Brigid’s Day long weekend, the Six Nations rugby matches and the end of Dry January.
“It’s very welcome to see overall spending up 5pc in February and such strong spending across a number of sectors in February, particularly the hospitality sector, which would have had a quiet January after the Christmas festivities,” he said.
“Rugby fans enjoying Ireland’s Six Nations success provided a great boost to the industry, along with the bank holiday weekend at the start of the month.”
The report also found that most money was spent by consumers on February 1, with Cavan leading the way in pub and overall spending.
The biggest increase in overall spending month-on-month was seen in Cavan (11pc), Roscommon (10pc) and Monaghan (9pc).
Consumers also spent more on EV charging points last month, with an increase of 83pc compared with the same period last year.
Spending on EV charging increased by 12pc last month, while spending in service stations increased by 9pc in the same period.
During Storm Éowyn, the number of in-store transactions were down 38pc compared with an average day.
In Donegal, January 24 was the lowest spending day of the year so far. However, the county recovered last month with a 9pc rise in spending.
After the storm hit, spending in hardware stores was up 8pc, with significant increases seen in Mayo, Leitrim and Kerry.
Cinema spending peaked on February 15 after the release of Bridget Jones: Mad About the Boy. The best day of the year for event ticket sales so far was January 31 when tickets for music festival Forbidden Fruit went on sale.
AIB also noted its customers’ use of online cards increased by 10pc compared with last year, pointing to more digital transactions.
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