Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

GCC travelers to Brazil spend $500000 on Visa accounts  Join our daily free Newsletter

MENAFN - Arab News - 23/06/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN - Arab News) Visa inc. a leader in global payments has released the visa everywhere travel report for the 2014 fifa world cup brazil which analyzes travel data and cross border spend on all visa products including credit debit and prepaid payment cards.

during the four-day opening period of the tournament (june 12-15 2014) visa found that gcc visitors spent more than 500000 on their visa accounts with the uae and saudi arabia making up 70 percent of the total.

this represents a five-fold increase over the same four-day period in 2013 and 47 percent more when compared to the opening four-day period of the confederations cup (june 15-18 2013).

the global attraction of the fifa world cup — and growing confidence and understanding of the convenience of electronic payment platforms — has combined to see the enormous increase in card usage from the gcc region. the gcc spending was part of a total spending of 27 million from global visitors to brazil during the 4-day opening period of the tournament.

visitors from the united states followed by the uk france and mexico represented the largest overall tourist spend in brazil during the four-day period. on saturday (june 14) alone international travelers to brazil spent more than 10.7 million using visa products. this was the highest tourist spend day in the country in 2014.

'these numbers reflect the significant impact that mega sporting events like the world cup can have in boosting local commerce in host market economies" said ihab ayoub gm for mena at visa.

'this positive trend aligns with brazil's expectation that more than 600000 international travelers may visit the country during this event — ultimately boosting the country's economy including a significant number from the middle east" he added.


Arab News

  MENA News Headlines
 Oct 9 2015 - Qatar- QSE falls 34 points, bullish phase continuesGulf Times
(MENAFN - Gulf Times) Qatar Stock Exchange failed to surpass the 11,800 mark as its key index lost 34 points, after being in a bullish phase for the last three consecutive sessions.Consumer goods, ...

 Oct 9 2015 - Saudi said to order spend curbs amid oil price slumpGulf Times
(MENAFN - Gulf Times) Saudi Arabia is ordering a series of cost-cutting measures as the slide in oil prices weighs on the kingdom's budget, according to two people with knowledge of the matter.The ...

 Oct 9 2015 - KSA- SABB Q3 profit rises 7.7% to $304mnGulf Times
(MENAFN - Gulf Times) Saudi British Bank (SABB), the kingdom's fifth-largest bank by assets, posted a 7.7% rise in third-quarter net profit yesterday, in line with analyst forecasts. The bank, an ...

 Oct 9 2015 - Qatar wealth fund said interested in Glencore agriculture unit saleGulf Times
(MENAFN - Gulf Times) The sovereign wealth fund of Qatar has joined investors expressing an interest in buying a minority stake in Glencore's agriculture business, according to three people familiar ...

 Oct 9 2015 - Almost 300 Europe-bound migrants arrested in LibyaGulf Times
(MENAFN - Gulf Times) Libyan authorities said almost 300 migrants, a third of them from Senegal, were arrested Thursday as they prepared to board boats for the Mediterranean crossing to Europe."After ...

 Oct 9 2015 - Netanyahu moves to lower tensions over holy siteGulf Times
(MENAFN - Gulf Times) Prime Minister Benjamin Netanyahu has banned Israeli cabinet ministers and legislators from visiting a sensitive Jerusalem holy site where rising tensions have spilled over into ...

 Oct 9 2015 - France carries out fresh strikes against IS in SyriaGulf Times
(MENAFN - Gulf Times) France said on Friday it had carried out a second wave of strikes overnight on Islamic State targets in Syria and accused Russia of failing to target the group."Two Rafale jets ...

 Oct 9 2015 - UN envoy proposes Libya unity governmentGulf Times
(MENAFN - Gulf Times) UN envoy Bernardino Leon proposed a Libyan unity government on Friday aimed at ending years of conflict, but the plan was quickly dismissed by members of the country's two rival ...

 Oct 9 2015 - Tunisian dialogue mediators win Nobel Peace PrizeGulf Times
(MENAFN - Gulf Times) Tunisia's National Dialogue Quartet won the Nobel Peace Prize on Friday for building democracy in the country after the 2011 revolution which unleashed the Arab Spring.The award ...

 Oct 9 2015 - Four Arabs stabbed in southern Israel, Jewish suspect heldGulf Times
(MENAFN - Gulf Times) Four Arabs were stabbed in a town in southern Israel on Friday and a Jewish suspect was arrested, police said. The attacks follow a surge in knife violence by Palestinians ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help