Brazil proves to be a formidable contributor to the global tourism
economy, increasing outbound spend by 32 percent
SAN FRANCISCO--(BUSINESS WIRE)--Mar. 30, 2012--
Visa Inc. (NYSE:V) today released its 2011 Travel Snapshot reports
highlighting key spend insights from Visa account holders traveling to
and from the United States, Canada, Mexico and Brazil. According to
VisaVue® Travel data, Visa account holders from these
countries continued to increase spend on international travel-related
purchases from 2010 to 2011, building momentum toward pre-recession
levels. Travelers from the United States increased tourism spend on
their Visa accounts by 7 percent, those from Canada by 11 percent, and
Mexico by 19 percent. Most notably, travelers from Brazil increased
international travel spend on their Visa accounts by 32 percent in 2011
– 43 percent of which was in the United States.
“Visa works closely with governments and tourism entities to connect
merchants to the more than 2.3 billion1 Visa global account
holders and provides a convenient, secure and reliable payment
experience for international travelers,” said Ava Kelly, head of global
affluent and cross border initiatives at Visa Inc. “Tourism is a key
contributor to economic growth so this upward trend in international
travel expenditures can provide some welcome revenues for growing
countries like Mexico and Brazil as well as the U.S. and Canada.”
VisaVue Travel Data Spending Trends
United States: Brazil and China proved to be significant
corridors for travel to the United States. Visa account holders from
Brazil increased spend on travel to the United States by 41 percent,
from $1.9 billion in 2010 to $2.7 billion in 2011, edging out the U.K.
as the second highest total contributor to U.S. tourism revenue. Visa
account holders from China increased travel spend within the United
States by 61 percent, from $741 million in 2010 to $942 million in
2011. Similarly, Visa account holders from the United States increased
travel spend in China by 27 percent, from $741 million in 2010 to $941
million in 2011.
Canada: While Visa account holders from the United States ($3.5
billion), France ($351 million) and the United Kingdom ($348 million)
remained the top three contributors to Canadian tourism, Visa account
holders from China had one of the most significant increases with a 41
percent increase year over year, from $229 million in 2010 to $321
million in 2011.
Mexico: Visa account holders increased spending in Mexico by
six percent in 2011. While Russian account holders increased travel
spending in Mexico by 73 percent, travelers from South America also
showed more interest in Mexico with Argentina (+58 percent), Brazil
(+56 percent), Peru (+30 percent) and Colombia (+30 percent) following
Russia with the greatest increases in travel spend to Mexico in 2011.
Brazil: While the United States remains the top destination of
choice for Visa account holders from Brazil, most European nations
recognized double digit increases in travel spend by Brazilian Visa
account holders in 2011. Spending by Brazilian Visa account holders
increased by 30 percent in France, 44 percent in Italy and 41 percent
in the United Kingdom.
Visa’s suite of travel products and services advances the value and
reach of electronic payments as a key component of sustainable global
tourism. Visa products offer account holders peace-of-mind in knowing
they have the ability to make purchases at tens of millions of merchants
worldwide, access to local currencies at more than 1.9 million ATMs, the
protection of Visa’s Zero Liability Policy2 for fraudulent
transactions, and a range of travel perks and benefits which can save
account holders time and money.
For more information on Visa’s full suite of travel products and tips
for international travel payment, visit www.visa.com/travel.
To view complete copies of the 2011 Visa Travel Snapshot reports
for the United States, Canada, Mexico and Brazil, please visit www.corporate.visa.com.
About VisaVue® Travel Data
Visa cardholder spend data cited is based upon VisaVue Travel data. Visa
introduced the VisaVue Travel tourism reporting product to U.S. tourism
organizations in 2008 and has continued to provide reports to the
industry on a variety of popular tourist destinations every year. For
more information on VisaVue Travel and Visa's products focused on the
tourism industry, please contact the VisaVue Product Office at VisaVueTravel@Visa.com.
Data included in the 2011 reports includes spending on Visa-branded
payment cards by international visitors from key source countries during
the calendar year 2011 (Jan. 1 - Dec. 31, 2011) and includes travel
spend in Visa Europe.
Visa is a global payments technology company that connects consumers,
businesses, financial institutions and governments in more than 200
countries and territories to fast, secure and reliable digital currency.
Underpinning digital currency is one of the world’s most advanced
processing networks—VisaNet—that is capable of handling more than 20,000
transaction messages a second, with fraud protection for consumers and
guaranteed payment for merchants. Visa is not a bank and does not issue
cards, extend credit or set rates and fees for consumers. Visa’s
innovations, however, enable its financial institution customers to
offer consumers more choices: pay now with debit, ahead of time with
prepaid or later with credit products. For more information, visit www.corporate.visa.com.
1 Includes Visa Europe account holders
2 Visa's Zero Liability policy covers U.S.-issued cards only
and does not apply to ATM transactions, PIN transactions not processed
by Visa, or certain commercial card transactions. Cardholder must notify
issuer promptly of any unauthorized use. Consult issuer for additional
details or visit www.visa.com/security.
Source: Visa Inc.
Sarah Toffoli, 415-932-2564