Spending on travel has risen sharply despite the rising cost of living and disruption at airports.
According to Barclaycard’s monthly consumer spending index, May was particularly strong for the travel industry, which outpaced inflation and grew year on year and month on month.
Spending on holidays leapt by almost 190 per cent compared with May last year, when the industry continued to be hit by Covid-related travel restrictions. Credit and debit card spending with airlines grew by 6.6 per cent as more holidaymakers booked summer breaks abroad, and hotels, resorts and accommodation in the UK increased by 1.2 per cent month on month, which Barclaycard said suggested “a parallel rise in staycation booking in May”.
The leap in travel spending came as new figures from
