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FINANCIAL NEWS
UAE’s 2010 credit card spending up 20%
14 Aug 2011
(MENAFN) Visa Middle East’s general manager, Kamran Siddiqi, said that in 2010, international visitors’ spending through their Visa cards in the UAE grew more than 20 percent from 2009 to reach USD3.1 billion, reported The National.
Siddiqi added that in spite of troubles in the British economy, spending by British travelers went up around 10 percent in 2010 from the previous year to reach USD441.2 million.
He also said that in the accommodation sector, travelers from England, US and Saudi Arabia contributed with more than 38 percent of the total USD716.5 million spent in the category, furthermore, money spent on food at supermarkets, and gadgets at consumer electronics shops, rose more than 10 percent in each category.
It is worth noting that in the period, airline ticket sales paid for by Visa cards went down 14.6 percent reaching USD59.9 million, while bookings at car-rental agencies dropped 4.6 percent, to reach USD41.7 million.
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