Last updated on April 17, 2014 at 15:08 EDT

International Travellers Spent US$700 Million on Their Visa Accounts During Opening Week of London 2012 Olympic Games

August 1, 2012

Travellers Significantly Impact International Tourism Economy

TORONTO, Aug. 1, 2012 /CNW/ – According to Visa Inc. (NYSE:V),
international visitors to the London 2012 Olympic Games spent nearly
US$700 million on their Visa accounts during the opening week (July
23-29). The top five Visa spenders were from the United States,
followed by Japan, France, Italy, and Australia. Visitors in the United
Kingdom from these five countries accounted for more than 36 per cent
of all Visa account holder spending during this time period.

Canadian visitors ranked as the ninth largest Visa spenders during the
first week of the Olympic Games, behind visitors from the United
States, Japan and France and ahead of visitors from Sweden.

“As a proud sponsor of the London 2012 Olympic Games for 26 years, Visa
worked closely with the United Kingdom’s tourism and government bodies
to ensure a safe, convenient and reliable experience for those
traveling to the Olympic Games to cheer on their team and country,”
said Kevin Burke, CMO of Core Products, Visa Inc. “It’s impressive to
see travelers from around the world transacting with one payment brand
in multiple forms. With more than 3,000 contactless terminals installed
across Olympic Games venues that accept prepaid, contactless payments,
mobile technologies, and other payment innovations, the Olympic Games
gives Visa an opportunity to extend its sponsorship to directly benefit
account holders worldwide.”

Spending categories that experienced the greatest activity include
“Services” (US$133.7 million) – including items such as shoe and
jewelry repair and spas; “Entertainment” (US$95.5 million) – including
theater tickets and other attractions; “Airlines” (US$82.9 million);
“Other Retailers” (US$71.8 million) – including bike shops, book
stores, antique shops, and drug stores and more; and “Hotels” (US$69.3

Top Ten Contributors to Spend on Visa Accounts by Country/Territory
During Week One of the Games (Throughout the United Kingdom)

    |Ranking|Country/Territory  |Total Spend (USD)|% of Total|
    |1      |United States      |$85.5 million    |12%       |
    |2      |Japan              |$50.9 million    |7%        |
    |3      |France             |$41.5 million    |6%        |
    |4      |Italy              |$39.5 million    |6%        |
    |5      |Australia          |$35.3 million    |5%        |
    |6      |Republic of Ireland|$32.4 million    |5%        |
    |7      |Spain              |$31.1 million    |4%        |
    |8      |Germany            |$30.9 million    |4%        |
    |9      |Canada             |$24.1 million    |3%        |
    |10     |Sweden             |$23.4 million    |3%        |

The top 10 contributing countries accounted for 57 per cent of the total
amount spent on Visa accounts in the United Kingdom during this time

For more information on Visa travel products and tips for international
travel payment, click here.

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About Visa Inc.: Visa is a global payments technology company that connects consumers,
businesses, financial institutions and governments in more than 200
countries and territories to fast, secure and reliable digital
currency. Underpinning digital currency is one of the world’s most
advanced processing networks–VisaNet–that is capable of handling more
than 20,000 transaction messages a second, with fraud protection for
consumers and guaranteed payment for merchants. Visa is not a bank, and
does not issue cards, extend credit or set rates and fees for
consumers. Visa’s innovations, however, enable its financial
institution customers to offer consumers more choices: Pay now with
debit, ahead of time with prepaid or later with credit products. For
more information, visit www.corporate.visa.com.

For further information concerning Visa’s sponsorship of the Olympic
Games, please contact Nancy Panter at +1 (415) 244-9857 or in the UK
(0)7725 059 778. More information and assets are available at www.visa.com/olympicmediakit.

SOURCE VISA Canada Corporation

Source: PR Newswire