According to Visa Inc., international visitors to the London 2012 Olympic Games spent nearly US$700 million on their Visa accounts during the opening week (July 23-29). The biggest Visa spenders were from the United States, followed by Japan, France, Italy, and Australia. Visitors in the United Kingdom from these five countries accounted for more than 36 percent of all Visa…
According to Visa Inc., international visitors to the London 2012 Olympic Games spent nearly US$700 million on their Visa accounts during the opening week (July 23-29). The biggest Visa spenders were from the United States, followed by Japan, France, Italy, and Australia. Visitors in the United Kingdom from these five countries accounted for more than 36 percent of all Visa account holder spending by during this time period.
Travelers from South America and Central America showed some of the largest year-over-year travel spend increases in the United Kingdom on their Visa accounts, including triple-digit increases from Nicaragua (+384%), Honduras (+338%), Guatemala (+324%), and Bolivia (+309%).
| Top Ten Contributors to Spend on Visa Accounts by Country/Territory During Week One of the Games (Throughout the United Kingdom) | |||
| Ranking | Country/Territory | Total Spend (USD) | % of Total |
| 1 | United States | $85.5 million | 12% |
| 2 | Japan | $50.9 million | 7% |
| 3 | France | $41.5 million | 6% |
| 4 | Italy | $39.5 million | 6% |
| 5 | Australia | $35.3 million | 5% |
| 6 | Republic of Ireland | $32.4 million | 5% |
| 7 | Spain | $31.1 million | 4% |
| 8 | Germany | $30.9 million | 4% |
| 9 | Canada | $24.1 million | 3% |
| 10 | Sweden | $23.4 million | 3% |
“As a proud sponsor of the London 2012 Olympic Games for 26 years, Visa worked closely with the United Kingdom’s tourism and government bodies to ensure a safe, convenient and reliable experience for those traveling to the Olympic Games to cheer on their team and country,” said Kevin Burke, CMO of Core Products, Visa Inc. “It’s impressive to see travelers from around the world transacting with one payment brand in multiple forms. With more than 3,000 contactless terminals installed across Olympic Games venues that accept prepaid, contactless payments, mobile technologies, and other payment innovations, the Olympic Games gives Visa an opportunity to extend its sponsorship to directly benefit account holders worldwide.”
| Top Five Travel Spend Percentage Increases on Visa Accounts for South American and Central American Countries During Week One of the Games (Throughout the United Kingdom) | ||
| South America | ||
| Ranking | Country/Territory | % change over 2011 |
| 1 | Bolivia | 309% |
| 2 | Argentina | 123% |
| 3 | Uruguay | 103% |
| 4 | Peru | 97% |
| 5 | Colombia | 70% |
| Central America | ||
| Ranking | Country/Territory | % change over 2011 |
| 1 | Nicaragua | 384% |
| 2 | Honduras | 338% |
| 3 | Guatemala | 324% |
| 4 | Belize | 242% |
| 5 | El Salvador | 138% |
Spending categories that experienced the greatest activity include “Services” ($133.7 million) – including items such as shoe and jewelry repair and spas; “Entertainment” ($95.5 million) – including theater tickets and other attractions; “Airlines” ($82.9 million); “Other Retailers” ($71.8 million) – including bike shops, book stores, antique shops, and drug stores and more; and “Hotels” ($69.3 million).
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
