Visitor spending on the rise before the Olympic Games
International visitor interest in the UK rose even before the Olympic and Paralympic Games began; more than $690 million was spent in the UK the week before the major sporting event.
Meanwhile, spend on Visa cards in the retail sector is up 4.2 per cent year-on-year among visitors to the UK.
The average transaction value among visitors is $89.83, with the Chinese spending an average of $315 for every payment, while visitors from the UAE spend an average of $281.45 per transaction.
During the period of July 23 to 29, 2012, domestic consumer spending on visa cards was around $10.9 billion, a two per cent rise week-on-week during the same period in 2011.
London 2012 has inspired a thirst for sporting goods as sales at sports shops swelled 10.2 per cent week-on-week.