AIB reported an unprecedented number of clients utilising their debit and credit cards in France in the previous month, attributed to the influx of Irish supporters attending the Olympic Games in Paris. Although total card expenditure didn’t see a significant increase from June to July, it was up by 9% compared to July 2024, based on recently released statistical data from the financial institution. This occurred despite a significant reduction in expenditure at pubs and eateries, which witnessed a 6% and 10% drop month on month, respectively.
Nevertheless, this was offset by a surge in spending on accommodation during a peak period for the industry, said AIB. A 7% increase in hotel expenses was noted from June to July, 4% more compared to the corresponding month the previous year. The highest proportion of clients securing a room were 35-44, followed by those in the 45-54 age bracket.
Adrian Moynihan, head of the consumer division at AIB, characterised July as a “particularly crucial month for the hospitality industry,” adding that Irish hotels had an exceptional year.
Furthermore, a total of 45,000 AIB clients were accountable for 597,000 transactions in France in July, marking AIB’s highest ever client spending for a single month in the country, even surpassing the spending during last year’s Rugby World Cup. The top expenditure categories during this period were restaurants and groceries, due to the usual influx of Irish holidaymakers being supplemented by Olympics spectators, noted AIB.
Meanwhile, spending related to back-to-school preparations peaked on July 30th, revealed Moynihan. Another peak in spending was observed on July 20th at cinemas, the highest for the year, on account of unseasonably chilly weather and the premieres of highly anticipated summer films, such as Despicable Me 4 and Twisters.
According to Moynihan, the 8% month-on-month and 45% year-on-year increase in spending on electric vehicle charging showed a positive trend. He affirmed it was encouraging to see clients actively participating in the move towards a future with reduced carbon emissions.