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%|
|6||Republic of Ireland||$34.3 million||5%|
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.
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