Travel agents recorded the strongest growth in transactions of any sector measured by Barclays in February (+16.1% year-on-year) while agents were among the top performers for year-on-year spending growth (+7%).
This was bested only by increases in consumer spending on digital content and subscriptions (+12.2%) and on entertainment (+9.9%).
However, polling by Barclays last week (3-6 March) suggests travel's strong start to the year could be significantly impacted by the developing situation in the Middle East.
More than half of respondents (56%) cited travel disruption as an area of concern arising from the crisis in the Middle East, while confidence in the strength of the UK economy fell by two percentage points week-on-week from the last week in February to the first week in January.
Almost half said they would change their spending plans as a result, with 13% saying they will reduce discretionary spending. Meanwhile, nearly one in 10 (9%) said they are reconsidering upcoming travel plans.
Elsewhere, growth in spending with airlines fell by 6.9% year-on-year in February, with transaction growth dipping by 5.1%. The Barclays spending data compares transactions made between 23 January and 19 February 2025 with those made between 23 January and 19 February 2026.
Karen Johnson, Barclays' head of retail, said: “February’s data highlights the careful balancing act shoppers face in navigating rising costs amid global uncertainty.
"While we’re seeing a continued appetite to spend on categories such as entertainment and wellness, obtaining value for money and savvy spending will remain a strong focus in the months ahead."
