Brits continuing to spend on experiences

Drink and sunglasses

New figures show that British people are continuing to spend their money on experiences rather than stuff, with uncertainty following the Brexit vote not dampening general spending as much as expected.

"July's data suggests that UK consumer spending is holding up despite the ongoing uncertainty following the referendum, albeit at lower levels of growth than we've seen in the last couple of years, says Kevin Jenkins, UK and Ireland Managing Director at Visa, which released the statistics.

"Looking at the sectors, the longer term trend we've seen for increased spending on leisure and recreation is enduring."

Warm weather and UEFA Euro 2016 were also cited by businesses owners as incentives for spending on things like beauty treatments and trips to the pub.

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