The May bank holiday could earn a £3bn for high street businesses, as Britons choose to spend the long weekend closer to home.
Data from Worldpay reveals that in post-Brexit Britain, where foreign travel is increasingly costly, native trips have upped their appeal.
The company’s analysis of transaction data from the Early May bank holiday weekend reveals a 7% increase in card transactions in-store, compared to the same time last year.
For retailers and hospitality business owners, the strong growth in spending seen during the first bank holiday in May will be welcomed as an encouraging sign that trading this weekend could be even brisker.
Worldpay’s analysis of transaction data during the spring Bank Holiday in 2016 shows spending in pubs was up 25% compared to average over the long weekend.
Restaurants (+21%), tourist attractions (+35%) and hotels (+17%) also saw double digit growth in spending compared to average.
If the upward trend in spending seen in early May continues, Worldpay said these figures could be even higher this year.
The regions which saw the biggest overall spending increases in 2016 were vacation favourites Cornwall (+11%), Brighton (+6%) and Edinburgh (+5%).
James Frost, chief marketing officer at Worldpay UK, said: “This is a key period for businesses which rely on seasonal peaks in traffic, and with the weather forecast looking positive – for the moment – tourist hotspots across the UK will be looking to make hay while the sun shines.
“The current weakness of the pound means more Brits are choosing a staycation instead of heading abroad, while foreign tourists are making the most of cheaper prices by flocking to destinations from Edinburgh to Cornwall. Savvy business owners will be doing all they can to make the most of this boom, from taking on extra staff to deploying technologies designed to speed up service at busy times.”