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ATM 2014: Visa Travel Survey unveiled

Profile Photo By: Chief Editor Hospitality News
May 10, 2014

ATM 2014: Visa Travel Survey unveiled

ATM 2014The leading global payments technology company , Visa Inc., has unveiled the results of its latest Affluent Study report on the first day of ATM 2014, with a growth in spend by both inbound and outbound cardholders contributing to the global tourism economy.

Over 300 credit card holders in the UAE took part in the study, with over 130 respondents managing household incomes between AED 200,000 and AED 300,000 per annum, and more than 170 of those surveyed respondents responsible for incomes in excess of AED 300,000 per annum.

?UAE Visa cardholders spent US$2.8 billion overseas in 2013, almost 20% rise on 2012 figures, with Italy proving to be a popular destination and accounting for 36% increase in spend, followed by France, the UK and US at 24%, 23% and 22% respectively,? said Marcello Baricordi, General Manager UAE and Global Accounts Lead at Visa MENA.The UAE?s Affluent Index for 2014 has also increased to 130 from 125 in 2013, surpassing Hong Kong at 122 and Singapore at 118, reflecting a generally positive outlook for the affluent in the region.

?This travel savvy, high-spending segment of the Visa market are tourism trendsetters and their behaviour is a barometer for market performance in general? added Marcello.

?Three out of four of the UAE?s Affluent customers are regularly setting aside more than 60% of their monthly household income specifically for family travel, and 50% of our survey respondents expect this to rise further in the next 12 months,? he added.

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Source:? ATM 2014: Visa Travel Survey unveiled, Breaking Travel News? published May 07, 2014. Viewed May 09, 2014.


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