Revolut has crunched the numbers on Irish consumer spending over the last month, with the app’s own data revealing that a return in the popularity of staycations led to a record month of Revolut spending in Ireland this July.
Revolut’s consumer spending analysis tracked more than 58.5 million card payments over the course of the month, indicating several real-world spending trends by the country’s Revolut customers. The amount Revolut users are spending with the bank each month continues to rise, up nearly 5% (MoM increase) in July, with staycations a key driver in the broader uplift.
With a scorching heat wave across much of mainland Europe in July, a rising number of Revolut’s customers in Ireland chose to stay put for their summer break rather than go abroad.
In terms of accommodation, spending on hotels and resorts in Ireland has risen by 15% compared to last summer (YoY increase), while Revolut customers are spending more than 38% more (YoY increase) on health and beauty spas compared to this time last year too. For those looking for a slightly more outdoorsy or cost-effective alternative, the amount spent on camping sites and caravan parks has seen a more than 14% jump in July 2024 versus July 2023 (YoY increase).
When making their way around Ireland, Revolut has seen customers increase their spending at service stations, nearly 19% more this July than last (YoY increase), and on EV (electric vehicle) charging, which has risen considerably by over 46% since last summer (YoY increase). Staycations have also driven a surge in toll charges, with customers spending over 33% more to get to their destination faster than in July 2023, highlighting an uplift in domestic tourism.
At their journey’s end, Ireland’s staycationers are spending more in local bars, cafes, and restaurants, up close to 5% (YoY increase), with other leisure activities such as tourist attractions and museums rising by nearly 18% (YoY increase) and boat rentals by over 25% (YoY increase).
Maurice Murphy, General Manager at Revolut Bank UAB – Ireland Branch, said: “Once a trusted travel card, this record month of spending clearly indicates our evolution into many customers’ preferred bank and why we’re a mainstay for the people of Ireland.
Revolut’s ecosystem of financial products is the answer for people whether at home or overseas, and helps them make the most out of their money. It’s so great to see our customers choosing to spend on their staycation with us, while others are doing the same as they jet off abroad too.”
For more information, visit www.revolut.com/en-IE.