Brits to spend 4.2 billion pounds this Bank Holiday

New research from American Express has found more than 40 million UK adults will stay at home over the August bank holiday weekend rather than travelling abroad and plan to spend an average of 104 pounds each. This equates to 4.2 billion pounds of spending across the UK over the long weekend.

The top five activities for the August Bank Holiday includes going shopping, having a meal out, tackling some home improvements, as well as going out for a drink and visiting a local attraction such as a theme park or zoo, said the credit card firm.

Stephen Steinhardt, director at American Express, said in a press release: “It’s the last bank holiday before Christmas, so it’s great to see that so many people will be making the most of the extra day off. Whether it’s a long weekend fixing up the house or enjoying a barbecue in the sun, it’s also wise to make the most of bank holiday spending.”

The research reveals that shopping is tied with going to a restaurant for a meal as the top activity with average spend of 19 pounds, closely followed by DIY at 17 pounds, while going out for a drink at the pub is 12 pounds, and a UK attraction is 10 pounds.

This research along with cooler temperatures forecast will be a welcome relief for the high street, with many retailers hoping that they can lure shoppers back for the bumper Bank Holiday weekend, following the UK’s heatwave this summer.