World Cup Fans Spent $27 Million on Visa Cards in First 4 Days
Just four days into the 2014 FIFA World Cup in Brazil, Visa cardholders have already made $27 million in transactions. This is 73% more money than what was spent during the same four-day period in Brazil last year.
U.S. travelers make up the largest portion of this spending bracket, swiping their Visa cards for over $6.6 million in the first few days of the event. Travelers from the U.K., France and Mexico are also proving to be big spenders.
On Saturday, June 14, international tourists spent over $10.7 million on their Visa cards in a single day. This is the highest tourist spending day of 2014 in Brazil. A big payday like this is projected to do wonders for the Brazilian economy.
The highest amount of spending thus far has been in the lodging and accommodation industry, where visitors have already spent over $5 million. This is followed by local restaurants, yielding sales of about $2.5 million. According to Visa, travelers from 10 countries make up 65% of the total sales in Brazil.
“These numbers reflect the significant impact that mega sporting events like the World Cup can have in boosting local commerce in host market economies,” Ruben Osta, country manager for Visa in Brazil, said in a statement. “This positive trend aligns with Brazil’s expectation that more than 600,000 international travelers may visit the country during this event–ultimately boosting the country’s economy.”
Visa is one of the primary sponsors for the 2014 World Cup, and that sponsorship seems to be paying dividends for the company.