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Visitor spending on the rise before the Olympic Games
posted | Friday, 03 Aug 2012
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.
Retail, services and entertainment sectors have benefitted the most from international spending prior to the Games, accounting for 27.5 per cent ($190 million), 19.2 million ($132.7 million) and 13.7 million ($95 million) respectively.
US visitors to the UK accounted for 12.3 per cent of the total international spend ($84.7 million), according to figures released by Visa.
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.
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.
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