Travel agents are continuing to defy the downturn in consumer spending, outstripping almost all other sectors, with Barclays labelling holidays a “top priority purchase”.
Travel purchases are outstripping most other sectors (Credit: iStock / damircudic)
Transaction growth among agents in March was 13.1% year-on-year, beaten only by the rebound in purchases of electronics and those from specialist food retailers.
Growth in actual spend was 7.1%, with airlines seeing a 7.4% increase, although the number of air ticket transactions fell 1.3%. By comparison, across all the segments surveyed by Barclays, non-essential spend grew only by 2.2% and transactions by 1.9%.
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