Visa cardholders traveling to Mexico spent US$4.4 billion in 2010, 10% more than US$4 billion they spent the previous year and on par with spending before the global recession began in 2007, according to a tourism outlook report Visa Inc. released in late March.
“One of the big takeaways from this report is that people are traveling to Mexico again,” Paul Wilke, Visa senior business leader in corporate relations, tells PaymentsSource. Mexico has been beset not only by global economic setbacks and crime but also by worries of flu viruses, he notes.
In terms of the biggest gains, Visa cardholders from Brazil increased spending in Mexico by 85%, to $54.5 million last year from $29.5 million in 2009. Other big gains came from cardholders from Argentina, United Kingdom and Guatemala (see chart).
Among the biggest spenders, U.S. cardholders spent more than $3.1 billion in Mexico, up 7% from $2.9 billion. Other large contributors to Visa cardholder spending in Mexico were Canadians, who spent $538 million, and Spanish cardholders, who spent $102 million.
Regarding per-transaction spending, the Swiss topped off the list of travelers visiting Mexico at $242, followed by South Koreans at $201 and Canadians at $198, Wilke notes. Americans spent $133 per transaction.
MasterCard Worldwide, Discover Financial Services and American Express Co. say they do not release country-level spending data.
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