Travel spending declines as inflation bites

Saturday, 09 Aug, 2022 0

The high cost of living is starting to impact households ’spending power on non-essentials like overseas holidays.

Barclaycard spending data showed a 1.6% rise compared to last month but there was a marked drop in travel spend.

Spending fell nearly 4% at travel agencies and 3% at airlines, Barclaycard said.

“Inflation continues to have a noticeable impact, forcing shoppers to spend more on essential everyday items and cut back on some discretionary experiences such as holidays abroad,” said osé Carvalho, head of consumer products at Barclaycard.

Sales volumes in travel and other non-essential products are seeing much larger declines due to near double-digit inflation.

Airfares are up about 30% due to high demand and passenger caps.

Staycation popularity has driven higher spend in the domestic hotel sector category, which grew 2% in June.



 

profileimage

Ray Monty



Most Read

Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know

Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham

Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago

Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research

Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact

Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference

Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role

Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal

Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination

Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness

Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future

Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
TRAINING & COMPETITION
Skip to toolbar
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...