R3.1 billion spent in South Africa during the World Cup

Foreign Visa card spending reached R3.1 billion during the lead-up to, during and after the 2010 FIFA World Cup in South Africa.

Spending continued in the three weeks after the final and was up 55 percent over 2009 levels with 49,000 Visa transactions on average a day from the start of June until the end of July.

According to the latest data figures released by Visa Inc., the South African economy saw a massive boost in foreign visitor spending on Visa cards.

Visa spending data indicates:

– Spending during the period of the 2010 FIFA World Cup (11 June – 11 July) was 82 per cent higher than in 2009.
– The United Kingdom (19%), followed by the United States (18%), Australia (4%), Brazil (3.7%) and France (3.4%) have been the strongest contributors to visitor spending to date. These five countries alone accounted for 49 percent of spending.
– Over 90 percent of spending was in typical leisure and business travel categories – accommodation, restaurants, retail, auto rental and air travel.
– 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 (R91 million), Botswana (R90.8 million) and Angola (R68 million).

“While the tournament came to an end on the 11th July, spending continued well after the final match as visitors extended their stays to explore and experience South Africa,” said Charles Niehaus, General Manager, Visa Sub-Saharan Africa.

“While Visa saw a total increase in visitor spending during the FIFA World Cup period of 55 percent, 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.

Source: SA Goodnews

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