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19 Aug 2022

Longford credit card spend splurge gives much needed tonic to local economy

Longford credit card spend splurge gives much needed tonic to local economy

Longford credit card spend splurge gives much needed tonic to local economy

Longford witnessed the highest spending increase among Bank of Ireland credit card customers last month, a new survey has found.

An analysis of debit and credit card transactions during May saw Longford consumers outstrip the likes of Offaly, Cork, Kerry and Monaghan customers in a revelation which looks set to give a much needed tonic to the local economy.

Social spending in May rose by 14% (following a 4% drop in April), with pubs enjoying a 21% spending spike, outlay in fast-food outlets going up by 15% and restaurant spend rising by 14%.

The spending data also revealed that people were keen on enjoying their home comforts by getting back into ‘hosting’ mode, with catering spend increasing by 17%.

May was a more positive spending month nationwide, following on from April when only one county (Longford) posted a spending increase. Consumer outlay in Offaly (+14%), Cork (+13%), Kerry (+11%) and Monaghan (+11%) all rose much higher, with Longford once again leading the way with spending in the county during May rising by 18%.

On an international level, spending in some of the traditional holiday destinations remained steady, whilst a host of travellers flocked to the likes of Croatia (+65%), Norway (+65%) and Sweden (+21%) looking to broaden their horizons.

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Commenting on May’s spending data, Jilly Clarkin, Head of Customer Journeys & SME Markets at Bank of Ireland said: “Whilst April’s spending levels painted a mixed economic picture consumers certainly didn’t hold back in May, sparking an overall spending rise of 13% and boosting social, retail (clothing spend rose by 16%) and accommodation businesses amongst others.”

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