UK travel: Monzo unveils top holiday destinations in January to soak up warm weather as travel booms by 12%
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The top 10 holiday destinations have been revealed as travel increased by 12% last month compared with the same period last year. According to new data from digital bank Monzo travel-related spending rose by 12% on trips away in January.
However, fewer people spent money in pubs and bars on home territory. Total spending on going out to venues including bars, pubs and nightclubs fell by 11% during the month to January 29, compared with the same period a year earlier. The bank said this could indicate that more people had chosen to give up alcohol during the month as part of the Dry January movement.
Separate data from Not On The High Street revealed that sales of non-alcoholic drinks more than doubled last month compared with January 2023, with people tapping into new brands selling alternative beers, wines and spirits. Meanwhile, Monzo said the number of fitness-related 'pots' had surged by 90% year-on-year last month. The feature lets customers put money aside into savings pots which can be designed for a specific goal, such as a house, a holiday, or keeping fit.
When it comes to gym memberships, PureGym, which offers gym access 24-hours-a-day, seven-days-a-week, saw the highest volume of spending from the bank’s users. The higher-end health group David Lloyd Clubs was the second most popular gym for customers who decided to splash out on well-being at the start of the year.
Sujata Bhatia, Monzo’s chief operating officer, said its customers had been finding “fun and savvy” ways to achieve goals for the year, such as by rounding up purchases and putting the extra cost in a pot, or setting automated saving challenges. Ms Bhatia added “it’s clear they’re kicking off the year thinking about putting every penny they can towards the things that matter to them”.
Monzo also revealed the destinations where UK consumers were soaking up the warm weather last month. The top destination was Spain, with Australia, the US and the United Arab Emirates also making the top 10 destinations list.