Business | Economy
Card transactions on Olympics opening day deliver multi-billion dollar
The international tourists who have joined the more than 11,000 athletes from 204 participating National Olympic Committees in China for the Beijing 2008 Olympic Games have had an immediate impact on the nation's economy, including nearly $10 million spent on Visa cards on the opening day of the Games.
- Staff Report
- Published: 12:46 August 14, 2008
Dubai: The international tourists who have joined the more than 11,000 athletes from 204 participating National Olympic Committees in China for the Beijing 2008 Olympic Games have had an immediate impact on the nation's economy, including nearly $10 million spent on Visa cards on the opening day of the Games.
The money spent by tourists on their Visa credit, debit and prepaid cards on 8 August 2008 showed an increase of 11 per cent over last year (8 August 2007).
Opening Day's biggest Visa spenders were from USA, followed by Japan, Hong Kong SAR, South Korea and the United Kingdom. Visitors from these five locations accounted for more than half of all Visa card spend on 8 August 2008.
Richard Chang, Executive Vice President and General Manager, Greater China and the Philippines for Visa said, "China has almost spared no expense to welcome visitors to the Games. The message sent at the Opening Ceremony was loud and strong, drawing attention to the country's rich history and culture through the most innovative, creative program that most of us have ever seen. And that message went far and wide, even reaching record levels of television audiences in the USA. Here in China, their compatriots were also the biggest spenders on Visa cards that same day."
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