Financial Daily from THE HINDU group of publications
Tuesday, Feb 25, 2003
Financial Daily from THE HINDU group of publications Tuesday, Feb 25, 2003 |
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Money & Banking
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Credit Cards & Debit Cards Tourists spent over $482 m on Visa cards Our Bureau
MUMBAI, Feb. 24 TOURISTS in India spent over $482 million using Visa payment cards in the year 2002 registering a three per cent growth over the previous year. According to a Visa International study, tourists from the European Union, the US and Asia-Pacific regions accounted for $429 million of the total card spends in India. International visitors who spent the most on the Visa cards were from the US, the UK, France, Australia and the UAE. Visa cards contributed to around 15 per cent of all tourism receipts earned in 2001 in India, said a press release. According to the world tourism organisation's Tourism Highlights 2002, the total international tourism receipts for India in 2001 was $3 billion. In 2002, Indians who travelled overseas spent $152 million on their Visa cards, a 29 per cent increase over the previous year, while travelling to the US, the EU and Asia-Pacific. Top destinations for these tourists in terms of Visa cards spend were the US, the UK, Singapore, Thailand, Germany, Hong Kong, Malaysia and France.
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