International Visa Cardholder Spending in Tsunami affected Countries shows signs of Moderate Recovery

Visa has reported that spending in tsunami-affected countries by its cardholders increased 14 percent during the four weeks ended 27 February compared with the same period last year. This indicates that visitors to India, Indonesia, Malaysia, Maldives, Sri Lanka and Thailand are continuing to travel to these countries, although the growth in spending is less than in neighboring counties that were unaffected.

During the five consecutive weeks from 26 December to 30 January, year-on year growth in international card spend in the six tsunami-affected countries slowed from 28 percent to 12 percent. Subsequently, growth stabilized at 11 to 14 percent during the four weeks up to 27 February. International card spend still shows overall year-on-year growth for Visa mainly bolstered by India and Indonesia where tourist destinations are less affected.

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