Spending in bars more than trebled as Covid restrictions eased
New figures show that spending in pubs and bars more than tripled on the day Covid-19 restrictions on socialising were eased.
The latest Revolut Spending Report shows that the amount of money spent in bars was 212% higher on January 22 than it had been the day before, when the 8pm curfew was still in place.
Revolut also said the number of its 1.7 million Irish customers in bars on January 22 was more than double the day before, jumping by 149%.
Consumers spent more money than they had at any other time that month, splashing out an average €39.98.
Revolut said that overall, spending in bars on January 22 was the highest level of spending in bars by its customers since October 25 – and the second highest spend in the whole of the previous six months.
Today’s figures also show that restaurant spending jumped by 45% on January 22 compared to the previous day, although the number of people spending in restaurants was only 7% higher.
Meanwhile, while travel has always expected an improvement in January, Revolut said the increase last month was “extraordinary” by any standards.
Spending on travel agents was up by 70% compared to the previous month, while on airlines directly it rose by 123% and cruise lines also saw an uplift of 70%.
Overall, consumer spending in January was 14% below the previous month – in line with seasonal expectations and after the major Christmas spending spree of December 2021.
As anticipated, spending fell across the retail industry, while supermarket spending was also 10% below what was experienced in December.
Sebastian Hamilton, Head of Public Affairs at Revolut Ireland, said the data reflected the tide of joy and optimism generated by the easing of restrictions.
“So many of our pubs and bars – which to many are at the centre of communities and our way of life – had endured a horrific two years due to Covid-19,” Mr Hamilton said.
“So it’s great to see that in one fell swoop we were able to celebrate the end of the pandemic while also supporting an industry that has suffered more than most. It’s also clear that people once again feel safe booking holidays – and are eager to get away,” he added.