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Tourist Visa card spending reaches £450 million in first week of Games

International visitors spent more than £450 million on their Visa cards during the opening week of the Olympic Games, an increase of 8% on the same period last year.

GENERAL MERCHANDISE

Tourist Visa card spending reaches £450 million in first week of Games

International visitors spent more than £450 million on their Visa cards during the opening week of the Olympic Games, an increase of 8% on the same period last year.

The electronic payments company said that the retail, services and entertainment sectors were among the biggest beneficiaries of the international spend, accounting for 27.7%, 19.4% and 14.9% of the total respectively.

Spend on Visa cards in the retail sector was up 18.4% while spend on entertainment rose 10.2% among international visitors to the UK.

The biggest spenders were from the United States, followed by Japan, France, Italy, and Australia. The average transaction value among international visitors was £58.15.

Steve Perry, commercial director at Visa Europe said: "The Games are building a massive feel good factor not just for the host nation but for all those visitors currently enjoying all the UK has to offer. There was plenty to cheer about in the first full week of the Games as total spending on Visa cards by international visitors reached £457 million.

"It would appear that visitors are out celebrating the success of their athletes in some style with restaurant spending up by almost a fifth and nightclub spending by almost a quarter on this time last year."

The analysis covered the period from 31 July to 5 August 2012.

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