Economy

Hospitality spending jumps 6% in September

Spending in hotels, restaurants and bars saw a strong increase in September, according to Visa’s latest UK Consumer Spending Index.

The index – which reflects overall spending, not just on cards – found the hotel, restaurant and bar industry to be the best performing sector in September, up 6% on the same period last year.

Overall consumer spending was up 2.4% year-on-year during the month, following a flat August where spending grew just 0.1%.

Growth was driven by the ‘experience economy’, as consumers spent more on meals out, domestic holidays and trips to the theatre. On the other hand, clothing and footwear suffered another fall in sales with ‘back-to-school ranges providing no ‘significant’ boost.

Meanwhile, the gap between e-commerce and high street retailers continues to widen with the former posting 6% growth, while the latter saw spend remain almost flat.

Kevin Jenkins, UK & Ireland managing director at Visa, said: “Economic concerns took something of a backseat in September, with consumers reverting to more traditional spending patterns as they took advantage of the last of the summer sun.

“Overall spend bounced back strongly from a broadly flat August, and was the highest level seen in the past five months at an annual rate of 2.4%.”

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