Irish consumers’ overseas spending has reached higher levels since the start of the pandemic

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Irish consumer spending abroad hit its highest level in August since the start of the Covid pandemic.

Figures from the Central Bank show that debit and credit card spending outside Ireland rose 47%, or € 111 million, to € 346 million in August.

In annual terms, this is 70% higher than the levels observed in August 2020.

Restrictions on non-essential travel were lifted in Ireland on July 19, as airlines have since reported strong travel demand.

Figures show that overall card spending in August was up 6% from July.

The level of spending, including ATM withdrawals, stood at 7.7 billion euros, an increase of 437 million euros compared to July.

In annual terms, an increase of 18%, or 1.2 billion euros, was recorded compared to August 2020.

The figures reflect similar data from the CSO which shows retail sales volume increased 3.5% in August from July, boosted by the reopening of bars and highlights pent-up consumer demand since easing. restrictions related to Covid.

In sector terms, central bank figures show total retail spending rose 2% in August compared to July.

This represents a 10% increase over spending in August 2020. Clothing spending saw the largest monthly increase, growing 8% to € 26 million.

Social spending increased 18% from the previous month.

Expenditure on catering increased by 23%, or 92 million euros compared to July, an increase of 36% compared to August 2020.

Entertainment spending also experienced strong growth of 9%, or € 20 million.


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