Holidays and other forms of travel have seen the strongest increase in consumer spending over the past four years – showing the strength of the sector’s rebound from the depths of the Covid pandemic.
Consumers have been splashing out on holidays since the end of the pandemic (Credit: Aliko Sunawang / Unsplash)
Spending data from building society Nationwide shows its customers spent nearly £432 million on holidays during February – an increase of a 520% compared with February 2021 when the UK was locked down and spending on holidays reached only £69.6 million for the month.
While holidays saw the largest increase compared with February 2021, travel more broadly came in second with a 436% increase after consumers splashed out £133 million last month, compared with just £25 million four years ago.
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