Week two of Olympic Games brings additional $716.7 million in
spend on Visa accounts
Tweet This: #London2012 travelers spent US$1.4B on #Visa accounts
during first two weeks of #Olympic Games
LONDON, Aug 07, 2012 (BUSINESS WIRE) --According to Visa Inc. (NYSE:V), international travelers spent an
additional US$716.7 million on their Visa accounts while in the United
Kingdom during the second week of the London 2012 Olympic Games (July 30
- August 5), bringing the total spend on Visa accounts in the United
Kingdom to more than $1.4 billion. While the biggest Visa spenders still
hail from the United States, Visa account holders from Russia - one of
the top 15 contributors to the London 2012 Olympic Games - have
increased travel spend on their Visa accounts by more than 30 percent
for the second week in a row.
"The Olympics are a showcase for athletics and innovation, and the same
goes for tourism," said Kevin Burke, CMO of Core Products, Visa Inc. "It
is easier than ever for international travelers safely to pay for goods
and services with payment
cards, contactless smart cards or mobile technology. Visa's spend
data shows that more countries are able to take advantage of these
payment innovations. Tourism is a vital component of economic growth for
any nation, and it is exciting that Visa payment technology is making it
possible for countries and regions around the world to have a bigger
impact on the global economy."
The top 10 contributors to the overall spend throughout the United
Kingdom on Visa accounts by country/territory during the second week of
the Olympics include:
Ranking
|
|
Country/Territory
|
|
Total Spend (USD)
|
|
% of Total
|
1
|
|
United States
|
|
$91.0 million
|
|
13%
|
2
|
|
Japan
|
|
$47.4 million
|
|
7%
|
3
|
|
France
|
|
$44.5 million
|
|
6%
|
4
|
|
Italy
|
|
$42.1 million
|
|
6%
|
5
|
|
Australia
|
|
$35.3 million
|
|
5%
|
6
|
|
Republic of Ireland
|
|
$34.3 million
|
|
5%
|
7
|
|
Spain
|
|
$33.5 million
|
|
5%
|
8
|
|
Germany
|
|
$33.3 million
|
|
5%
|
9
|
|
Canada
|
|
$25.3 million
|
|
4%
|
10
|
|
Sweden
|
|
$23.9 million
|
|
3%
|
|
|
|
|
|
|
|
The top 10 contributing countries accounted for 57 percent of the total
amount spent on Visa accounts in the United Kingdom during this time
period.
The top three spending categories remained the same as the first week of
the Olympic Games - "Services" ($139.1 million), including items such as
shoe and jewelry repair and spas; "Entertainment" ($106.6 million),
including theater tickets and other attractions; and "Airlines" ($82.4
million). The "Clothing" category moved up to be the fourth highest
spending category with $67.9 million, surpassing "Other Retail" ($66.3
million), which includes bike shops, bookstores, antique stores, and
drug stores.
For more information on Visa travel products and tips for international
travel payment, visit www.visa.com/travel.
About the Data:
Olympic spend data is collected by Visa Europe and includes Visa Europe
and Visa Inc. account holder spending in the U.K. Total spend includes
both face-to-face transactions and card-not-present transactions.
About Visa Inc.:
Visa is a global payments technology company that connects consumers,
businesses, financial institutions, and governments in more than 200
countries and territories to fast, secure and reliable digital currency.
Underpinning digital currency is one of the world's most advanced
processing networks--VisaNet--that is capable of handling more than 20,000
transaction messages a second, with fraud protection for consumers and
guaranteed payment for merchants. Visa is not a bank, and does not issue
cards, extend credit or set rates and fees for consumers. Visa's
innovations, however, enable its financial institution customers to
offer consumers more choices: Pay now with debit, ahead of time with
prepaid or later with credit products. For more information, visit www.corporate.visa.com.
For further information concerning Visa's sponsorship of the Olympic
Games, please contact Nancy Panter at 415.244.9857 or in the U.K.
(0)7725 059 778. More information and assets are available at www.visa.com/olympicmediakit.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50369828&lang=en
SOURCE: Visa Inc.
Contacts, Press & Analysts Only:
In the U.K.:
Visa
Inc.
Ryan Donovan, (0)7725 059 781 (U.K. Mobile)
rdonovan@visa.com
or
In
the USA:
For Visa Inc.
Danielle Coan, 415-318-4104
danielle.coan@fleishman.com
or
For
Visa Inc.
Brett Cummings, 212-453-2469
brett.cummings@fleishman.com