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South Africa: The 2010 FIFA World Cup boosts spending rate on Visa payment cards

Thursday 15 July 2010 14:36 CET | News

The 2010 FIFA World Cup has generated a significant increase of USD 312 million in the rate of spending made with Visa payment cards by international visitors in South Africa, according to cardholder spending data released by Visa. 

The amount stands for a 70 percent increase compared to USD 184 million spent during the same period in 2009. The number of transactions performed between 1 June and 11 July 2010 totaled 2.2 million (55,000 per day on average), up 79 percent from approximately 1.2 million (30,000 a day on average) during the same 41 days in 2009.

According to the same data, 51 percent of spending came from such countries as the US (19.05 percent), the UK (19.03 percent), Australia (4.7 percent), Brazil (4.2 percent) and France (3.4percent). In addition, the main contributors to the significant rate of spending from the African continent were Mozambique (USD 8.1 million), Botswana (USD 7.47 million) and Angola (USD 6.5million).
 


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Keywords: 2010 FIFA World Cup, Visa, payment transactions
Categories: Payments & Commerce
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Countries: World
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