In its 2011 Travel Snapshot, Visa Inc. revealed an increase in spending from Visa account holders traveling to and from the U.S., Canada, Mexico and Brazil.
The report, conducted using VisaVue Travel data, showed the biggest increase from Brazil by 32%. Mexico followed with a 19% jump, and Canada was next with an 11% increase. Lastly, the U.S. showed a 7% increase in tourism-related spending.
Spending trends also reported that a majority of the spending done in the U.S. came from travelers from Brazil and China. Similarly, travelers from China also showed great interest in spending in Canada, while Mexico experienced an increase from Visa account holders in South America.
“Visa works closely with governments and tourism entities to connect merchants to the more than 2.3 billion 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. “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.”
For the full 2011 Travel Snapshot, click here.
Effective March 18, John F. North III will join the company as chief financial officer.