International visitors to the 2014 FIFA World Cup Brazil spent more than US$27 million on their Visa accounts during the four-day opening period of the tournament (12 June to 15 June 2014), according to Visa's latest report.
Titled Visa Everywhere Travel Report, the report analysed travel data and cross border spend on all Visa products, including credit, debit and prepaid payment cards.
The report revealed that on 14 June 2014 alone, international travelers spent more than US$10.7 million using Visa products in Brazil, marking the highest tourist spend in a day in the country in 2014.
Visitors from the United States, United Kingdom and France were found to be the top three contributors to spend in Brazil using their Visa accounts during the four-day period. Visitors from the United States spent US$6.6 million in total while those from the United Kingdom and France spent US$2.3 million and US$1.7 million respectively.
The major categories of spending were lodging and accommodation, which accounted for US$5 million, as well as local restaurants, which contributed US$2.5 million.
"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 Ruben Osta, Visa Inc country manager, Brazil. "This positive trend aligns with Brazil's expectation that more than 600,000 international travellers may visit the country during this event, ultimately boosting the country's economy."
Prior to the FIFA World Cup, Visa worked with partner organisations and service providers in Brazil to implement and manage the entire payment system infrastructure throughout all FIFA World Cup venues. This includes the deployment of more than 3,000 Visa contactless-enabled point-of-sale terminals and 75 automated teller machines (ATMs).
Sign up for Computerworld eNewsletters.