Helped largely by the 2010 Vancouver Winter Olympic Games, spending by Visa cardholders visiting Canada last year rose 10.3%, to $6.4 billion from $5.8 billion the previous year, Visa Inc. announced Feb. 28.
Visa’s “Go World” Olympics ad campaign supported the use of its card products at the event, whose venues only accepted Visa cards, a Visa Canada spokesperson tells PaymentsSource.
Despite the boost during the Olympics, which took place in February, the spending increases continued throughout the year, as Visa experienced double-digit growth in spending from visitors to Canada even through the summer months after the Olympics, the spokesperson says.
In June, for example, Visa cardholders from outside Canada spent $603 million, up 12.3% from $537 million a year earlier. In July, they spent $752 million, up 10.8% from $679 million.
The U.S. represented the largest group of foreign Visa spenders, spending $3.5 billion, up 6.1% from $3.3 billion. After the United States, Visa cardholders from the United Kingdom spent the most at $359 million, up 5% from $342 million. French cardholders spent $316 million, up 6% from $298 million, while Chinese cardholders spent $229 million, up 26.5% from $181 million.
In terms of growth, Brazilian Visa cardholders doubled their spending in Canada to $117 million in 2010 from $78.1 million in 2009. Russian Visa cardholders had the second-largest increase in spending at 41.1%, to $64.9 million from $46 million. Swedish cardholders ranked third, increasing their spending by 26.1%, to $25.1 million from $19.9 million.
MasterCard does not release country-level data, according to a spokesperson. Discover and American Express Co. did not respond by publication time.
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