12 March 2024 , 12:49
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Holiday spending jumped by a quarter during wet wintery weather, analysis by Virgin Money has revealed.
The bank said that the number of holiday-related transactions increased by 26% compared with the 2022/23 winter. And they spent 22% more money on holidays this winter.
The bank checked the money spent by people with Virgin Money accounts from December 1, 2023, to February 29, 2024. In January 2024, people spent 82% more on holidays than in December 2023.
Even in February 2024, people kept spending a lot on holidays because of good deals for the new year. Virgin Money also said that lots of people setting off for sunnier climes bought holiday packages.
Graeme Sands, head of personal banking at Virgin Money, said: "It's great to see our customers are balancing their lifestyle spend so they can continue to invest in activities that allow them to make memories and share exciting experiences with friends and family, whether that's with a holiday of a lifetime, a quick break overseas, or a night in with loved ones."
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