The May bank holiday could see Brits spend £3 billion on UK High Streets, according to Worldpay. The payments processor says that in post-Brexit Britain foreign travel is increasingly costly and so native trips have upped their appeal, meaning big business for pubs, restaurants, and tourist attractions. Its analysis of transaction data from the early May bank holiday weekend shows a 7% increase in card payments in-store, compared to the same time last year.
James Frost, CMO Worldpay UK, comments: “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.”