IRELAND. Financial services platform Revolut has reported a surge in airport and other travel-related spending among its 1.5 million-strong Irish consumer base in July compared to June. The growth coincided with the launch of the EU Digital COVID Certificate and the return of non-essential overseas travel in July.
Spending at airports in Ireland by Revolut users leapt by +57% month-on-month, while at duty free stores it rose by +70% to almost €50 per head on average, though this figure was down on June. The number of users buying in duty free leapt by +108% compared to a month earlier. Spending on airline tickets by Irish customers was up by +50% in July compared to June, the figures indicate.
The July 2021 Revolut Report also shows that spending outside the state by Irish Revolut customers soared by +39% during the month.
Revolut Ireland Head of Public Affairs Sebastian Hamilton said: “Our latest figures show a surge in spending on flights and at airports in July, as well as a significant rise in Irish Revolut customers spending abroad.
“The introduction of the Covid passport on 19 July appears to have been a significant factor in the return of international travel, as shown by the surge in spending on airlines, and at airport shops and duty free.
“The largest increases in spending abroad in July came in the 45-54 and 35-44 age groups. This may be a further indication of the impact of the Covid passport for those age groups who are likely to have been fully vaccinated in time to travel abroad during July.
‘Given that Revolut began its life as a card offering lower foreign exchange rates for travellers, it is great to see our customers once again being able to enjoy foreign holidays.”
Overall across all sales channels and categories, consumer spending by Irish Revolut customers was +8% higher in July than in June, underlining the gradual recovery of the economy.
