International Visa cardholders spent AED22.8-bn in the UAE in 2018


April 23, 2019 | By RetailME Bureau

According to the latest UAE Travel Snapshot released by Visa, travellers visiting the UAE have increased their spend on Visa cards, indicating a positive uptick on the local economy.

Covering the period of January-December 2018 versus same period 2017, the report shows international Visa cardholders spent AED22.8 billion with their cards while visiting the UAE in 2018, a 4% year-on-year (YoY) increase. The total number of Visa card transactions by visitors to the UAE also grew by 22% when compared to the previous year.

Retail categories that saw growth during the period of study include restaurants (up 30%), airlines (up 9%) and fashion apparel & accessories (up 9%). The luxury goods sector, on the other hand, saw a decrease of 10%, while leisure and entertainment remained flat. Visa cardholders recorded the highest value of tourism receipts during the traditional UAE travel season, between November and April (2017 and 2018), peaking in December and January for both years.

Visa noted a 11% increase YoY in the number of internationally-issued Visa cards used in the UAE.  In terms of top source markets, visitors from Saudi Arabia, the US, the UK, China, Russia, Kuwait, India, Oman, Bahrain and Australia accounted for 68% of the total tourism spend. From the UAE’s top 10 source markets, tourism spend by Russian visitors saw the highest YoY growth of 13%. Meanwhile visitors from Saudi Arabia remained the biggest spenders with total expenditure of AED4.9 billion, an increase of 9% YoY.

“Transactions growing much faster than spend suggests the UAE’s increasing appeal as a leading global destination for both mass and niche tourism. The UAE dirham being pegged to the US dollar, which saw strong performance in most of 2018, made the UAE more expensive for international travellers during the period we looked at for this report. Despite this, the UAE remained an attractive tourist destination for international travellers,” says Shahebaz Khan, UAE general manager for Visa.

The results of Visa’s UAE Travel Snapshot show travellers are increasingly relying on card payments for transactions of various sizes, suggesting increasing preference for the security and convenience of digital payments. It also reflects the wider acceptance network for card payments in the UAE, which continues to see momentum.

Comments

comments

Previous Article Next Article

YOU MAY ALSO LIKE /



UAE gears up to celebrate this year’s National Day celebrations in the 

Continue Reading

November 28, 2021 | By Zubina Ahmed

UAE-based Etisalat Group has signed an agreement with elGrocer, a leading online 

Continue Reading

November 18, 2021 | By RetailME Bureau

Amazon.ae announced that the 11.11 sale is back once again this year 

Continue Reading

November 8, 2021 | By RetailME Bureau

Abu Dhabi Cooperative Society’s COOP City store is now open in Lake 

Continue Reading

November 3, 2021 | By RetailME Bureau

Union Coop, a consumer cooperative in the UAE, revealed that 78% of 

Continue Reading

August 24, 2021 | By Jibran Chouguley

Union Coop has opened its 23rd branch within the UAE in Jumeirah 

Continue Reading

August 2, 2021 | By Jibran Chouguley

Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and 

Continue Reading

July 8, 2021 | By Jibran Chouguley

UAE-based Al Maya Group announced that it will be boosting import of 

Continue Reading

June 24, 2021 | By RetailME Bureau

UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu 

Continue Reading

June 2, 2021 | By RetailME Bureau

UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand 

Continue Reading

March 31, 2021 | By RetailME Bureau

Locally owned supermarket Spinneys celebrates 60 years of doing business in the 

Continue Reading

March 9, 2021 | By RetailME Bureau
Almarai, Carrefour, Emirates have the most loyal customers

UAE-based Carrefour will become the first retailer in the region to offer new levels 

Continue Reading

February 22, 2021 | By RetailME Bureau




Download Images RetailME Magazine