Two busy weekends, a rise in domestic and international tourism and the start of the school holidays saw spending rise across multiple sectors of the economy in June, new figures from online bank Revolut show today.
The total amount spent with Revolut has grown by over 15% in June of this year compared to the same time last year, according to its consumer spending analysis, which tracked 55.6 million card payments in June made by its over 2.8 million Irish account holders.
Spending on taxis, buses, and general commuter transport rose by more than 12%, 12.5% and 4.25% respectively on a monthly basis.
Revolut said it was clear that the June Bank Holiday, along with the final weekend of the month, which saw the Taylor Swift concerts, GAA quarter-finals, and Dublin Pride parade, drove a spending hike.
Customers in Ireland also headed for bars, cafes, restaurants and nightclubs more often in June, with spending collectively rising by more than 10% on May.
Domestic and international tourism was also a factor in the increased Revolut spending last month, with an 11% month on month jump in hotel spending, which was up more than 13% compared to last June.
Spending in souvenir shops rose by 16%, while spending at tourist attractions saw a 17% hike and car rentals jumped by 35%.
With schools signing off for summer las month, Revolut also said that spending on children's activities rose.
It suggested that the mid-month release of Disney's "Inside Out 2" movie could be attributed to the over 34% rise in spending in cinemas.
Maurice Murphy, General Manager at Revolut Bank UAB - Ireland Branch, said the 15% rise in the amount of money customers are spending with the company each month is notable.
"While we have continued to innovate at pace for the benefit of the Irish market, we're also doing more to become people's primary bank," he said.
