Holiday spending surged during wet winter months, says Virgin Money

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Spending on holidays jumped through the moist wintry climate, in accordance with a financial institution’s evaluation of its present account prospects.

The variety of holiday-related transactions elevated by 26%, in contrast with the winter of 2022/23, Virgin Cash discovered.

By worth, vacation spending elevated by 22% yearly through the winter months.

Buyer spending knowledge was sourced from Virgin Cash present account prospects between December 1 2023 and February 29 2024.

Whole vacation spending jumped by 82% by worth in January 2024, in contrast with December 2023.

Vacation spending remained excessive in February 2024, as folks made essentially the most of latest 12 months offers, Virgin Cash mentioned.

In an indication that prospects have been eager to maintain on prime of their total vacation prices, Virgin Cash’s evaluation additionally indicated that bundle holidays have been well-liked, with journey brokers and tour operators accounting for vital chunks of vacation spending.

Graeme Sands, head of private banking at Virgin Cash, mentioned: “It’s nice to see our prospects are balancing their life-style spend to allow them to proceed to put money into actions that enable them to make recollections and share thrilling experiences with family and friends, whether or not that’s with a vacation of a lifetime, a fast break abroad, or an evening in with family members.”