Visa reports R1,3 billion spend for first half of World Cup

The South African economy has seen a boost in foreign visitor spending during the lead-up to and during the group stage of the 2010 FIFA World Cup according to new cardholder spending data from Visa Inc.

During the period leading up to the kick-off of the FIFA World Cup and the end of the group stage spending by international visitors in South Africa on Visa-branded payment cards exceeded R1,33 billion, up 65% from R810 million during the same period in 2009. The number of transactions for that period was 1.3 million (51 000 per day on average), up 74% from approximately 730 000 (29 000 a day on average) during the same 25 days in 2009.

Visa spending data indicates that the United States, followed by the United Kingdom, Australia, Brazil and France, has been the strongest contributor to tourism spending to date. These five countries alone accounted for 47% of spending. Over 90% of spending was on typical leisure and business travel categories - accommodation, restaurants, retail, auto rental and air travel.