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New credit data reveals near ten-fold increase in travel spend

Business
31 March 2022

Consumer spend on travel increased dramatically in January and February, new credit data has revealed, with people keen to get away as the world reopens following the Covid crisis

NewDay said the spike in spend followed the lifting of travel restrictions around the world

UK credit provider NewDay said average credit card spend on holidays, hotels, flights and travel increased by 453% year-on-year in January and February.

Overall, Travel made up 7% of all credit card spend in January and February 2022, compared with just 2% in January and February 2021.

NewDay, which provides credit for around one in six cards in the UK, said the latest data highlighted increased confidence among consumers to travel with restrictions beginning to ease.