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Cruise and holiday expenditure both end 2023 on a high

People spent more on booking holidays last month, with cruises up by more than a quarter compared to December 2022, new data reveals.

A breakdown of spending trends for last month by Lloyds Banking Group shows outlay on cruises rising by 27% year-on-year.

Money spent on holidays rose by 11% in the month, outstripping restaurants.

The increases non-essential spending showed cruises being second only to bowling, while electric vehicle charging, up 47%, topped essential spending.

Lloyds Bank payments director Gabby Collins said: “Bowling had something of a resurgence last year, with our data showing a massive increase in spending at alleys compared to December 2022, as family get-togethers and Christmas parties got underway. 

“And it seems people were driven to book more getaways to escape the UK’s wet weather – it was cruises that topped the list in December, with spend more than a quarter up on this type of break compared to the year before.

“Despite essential costs remaining higher overall, it’s encouraging to see people spending money on activities that can be enjoyed with family and friends. 

“Regularly looking at your household budget will help with balancing paying for the essentials and taking time out to have fun.”

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