Visa Inc. (NYSE:V), the global leader in payments, today released the second installment of the Visa Everywhere Travel Report for the 2014 FIFA World Cup Brazil. The report, which analyzes travel data and spending through the use of Visa credit, debit and prepaid cards, found that some smaller Brazilian cities, which are hosting tournament games, realized some of the most significant increases in spending by international travelers.
Data through the Group Stage of the tournament, which includes opening day (June 12) through the close of the Group Stage (June 26), revealed triple-digit increases in spending, compared to the same period last year, in cities such as Natal (+851%); Cuiaba (+963%); Curitiba (+167%); and Manaus (+409%).
“The group stage of the 2014 FIFA World Cup Brazil has shown that international tourism was strong well beyond the cities of Rio de Janeiro and São Paulo, as fans traveled throughout Brazil to support their teams,” said Ricardo Fort, SVP Global Sponsorship Marketing, Visa Inc. “The fact that these games are bringing positive economic impact to regions of Brazil typically less visited by international travelers, is another sign of success for the tournament overall.”
Total Spending Hits Record LevelsTotal spend by international travelers on Visa accounts through the Group Stage hit US$188M. This represents a 152 percent increase year-over-year, and a 141 percent increase when compared to the US$78M spent by travelers attending the 2013 FIFA Confederations Cup TM during the same timeframe. The highest spending day in the 2014 FIFA World Cup Brazil was June 25, when travelers spent US$17.4M in one day. Visitors from the United States, followed by the United Kingdom, France, and Mexico represented the largest overall tourist spend in Brazil. The most significant spending increases were seen from countries such as Australia (+835%); Colombia (+765%); Chile (+519%) and Mexico (+396%).
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts