Publications
Partners
Johannesburg - The South African economy saw a boost in foreign Visa card spending in the lead-up to and during the 2010 FIFA World Cup of R3.1bn, according to cardholder-spending data from Visa released on Monday.
And spending continued in the three weeks after the final to $150m, up 55% over 2009 levels with 49 000 Visa transactions on average a day from the start of June until the end of July, the group said.
Visa disclosed that spending during the World Cup was 82% higher than in 2009 at $258m ($142m). The UK (19%), followed by the United States (18%), Australia (4%), Brazil (3.7%) and France (3.4%), were the strongest contributors to visitor spending to date.
"These five countries alone accounted for 49% of spending," Visa said.
Over 90% of spending was in typical leisure and business travel categories - accommodation, restaurants, retail, car rental and air travel, it added.
The biggest increases among the top 25 countries ranked by spending were from Mexico (3 300%), Argentina (1 600%) and Brazil (570%).
The biggest spenders from the African continent were Mozambique ($12.4m), Botswana ($12m) and Angola ($9.3m).
"While the tournament came to an end on the July 11, spending continued well after the final match as visitors extended their stays to explore and experience South Africa," said Charles Niehaus, general manager of Visa Sub-Saharan Africa.
"While Visa saw a total increase in visitor spending during the FIFA World Cup period of 55%, the direct economic benefit to date in 2010 has been significant and the spending on Visa cards by foreigners confirms the immediate economic benefits of hosting major international events", Niehaus said.
And spending continued in the three weeks after the final to $150m, up 55% over 2009 levels with 49 000 Visa transactions on average a day from the start of June until the end of July, the group said.
Visa disclosed that spending during the World Cup was 82% higher than in 2009 at $258m ($142m). The UK (19%), followed by the United States (18%), Australia (4%), Brazil (3.7%) and France (3.4%), were the strongest contributors to visitor spending to date.
"These five countries alone accounted for 49% of spending," Visa said.
Over 90% of spending was in typical leisure and business travel categories - accommodation, restaurants, retail, car rental and air travel, it added.
The biggest increases among the top 25 countries ranked by spending were from Mexico (3 300%), Argentina (1 600%) and Brazil (570%).
The biggest spenders from the African continent were Mozambique ($12.4m), Botswana ($12m) and Angola ($9.3m).
"While the tournament came to an end on the July 11, spending continued well after the final match as visitors extended their stays to explore and experience South Africa," said Charles Niehaus, general manager of Visa Sub-Saharan Africa.
"While Visa saw a total increase in visitor spending during the FIFA World Cup period of 55%, the direct economic benefit to date in 2010 has been significant and the spending on Visa cards by foreigners confirms the immediate economic benefits of hosting major international events", Niehaus said.
