Britons enjoy active summer as sports spending booms during Olympics

Money spent on sports clubs and gyms jumped last month as consumers turned to more affordable ways to enjoy an active summer, data has shown.

The start of the school holidays also prompted more trips to indoor entertainment venues in July.

Spending on sports clubs soared 38% in July, compared with June, according to Revolut’s consumer data.

The total monthly payments were also 16% more than a year ago.

The fitness boom this year came as Paris welcomed the Olympic Games towards the end of July, with millions of people tuning in to watch world-class athletes compete.

Furthermore, spending on gyms rose 18% compared with June, while sports retailers enjoyed an 11% increase in transactions as they cashed in on the sporting fever.

Revolut, which has more than nine million customers in the UK, analysed the spending data of its own customers for the report.

It said the analysis recorded nearly 97 million total card payments in July.

Revolut recently secured a long-awaited banking licence, but currently operates as a financial app that offers debit and travel money cards.

Meanwhile, its data found the start of the school summer holidays in July coincided with an increase in visits to entertainment venues.

Spending soared 48% in amusement parks and 46% in aquariums in July, compared with June, while museums jumped by 26%.

Cinema spending surged 35% month on month, but dropped 30% compared with the previous year when the Barbie and Oppenheimer film releases sparked a major boost to the UK box office.

Revolut also highlighted a 7% increase in spending at fast food restaurants, both compared with the previous month and previous year, as people opted for cheaper and more convenient meals.

Fiona Davies, head of growth for UK, Ireland and Nordics at Revolut, said: “This summer’s spending patterns show families are looking to maximise their fun while staying mindful of costs.

“We’ve seen a clear shift towards more affordable and active leisure activities, as many get into the sporting spirit, as well as a continued preference for value dining options to keep costs at a minimum.”

Published: 14/08/2024 by Radio NewsHub