Spending on foreign Visa-branded payment cards
in Singapore jumped 38% (between 11-16 August 2010 compared to
11-26 August 2009) to Sin$154 million (US$113.6 million) during
the Singapore 2010 Youth Olympic Games.
Meranda Chan, Country Manager, Singapore and
Brunei, Visa, said, “Singapore proved to be a wonderful host of
the inaugural Youth Olympic Games. Not only did young athletes
from around the world benefit from this world-class competition –
Singapore saw a number of benefits as well. The IOC estimates that
more than two billion people saw Singapore during the games
telecasts, and our local economy received a major boost as well.
We’ve also seen a strong showing for our Visa Prepaid cards, with
nearly 50,000 active cards and close to Sin$1 million in card
top-ups during the games.”
Visa spending data indicates the top spenders by
country during the games were:
8. Hong Kong, China
More than Sin$11 million (US$8.3 million) was
spent by international visitors to Singapore on Visa-branded
payment cards on the Opening Day of the inaugural Youth Olympic
Games in Singapore. The amount spent by visitors on their Visa
Credit, Debit and Prepaid cards on 14 August 2010, showed an
increase of nearly 50% over the same day in 2009.
For the first time at an Olympic Games, Visa
Prepaid cards were issued with all games tickets. In addition to
providing access to public transport, the Visa Prepaid card
offered young fans, athletes and accredited officials a convenient
cashless way to make purchases. Visa Prepaid cards allow
cardholders to spend only the funds loaded onto the card,
minimizing the risk of overspending, and can be used wherever Visa
cards are accepted – even online.
Visa has been a worldwide sponsor of the Olympic
Games for 24 years and was the only card accepted at Singapore
2010 Youth Olympic Games competition venues.
See other recent news regarding: