The hospitality sector enjoyed a surge in spending over the festive holiday period, according to new data released by Visa.
The company’s latest UK Consumer Spending Index found the overall household spending rose 2.6% in December on an annual basis – down on the 3.1% growth reported in November.
However, hotels, restaurants and bars reported the largest increase of all the sectors, reporting an increase in spending of 7.3%. This was an improvement on the 2% growth recorded in November.
Meanwhile, recreation and culture – November’s best performing category with an increase of 9.3% – came in second during the month with a 6.4% rise in spending.
Kevin Jenkins, UK & Ireland managing director at Visa, said: “Growth was once again led by the experience sector, with consumers going to Christmas markets, travelling to visit loved ones, or venturing to various parts of the country to celebrate.”