As the global tourism industry continued to experience economic turbulence in 2009, spending on Visa cards by international visitors to the U.S. decreased by nearly 12 percent from $32.9 billion in 2008 to $28.9 billion in 2009. However, according to VisaVue data in the new 2010 Tourism Outlook: USA report, the trend reversed during the first half of 2010. The only exception to this is the Gulf Coast region, which has been overwhelmingly affected by the recent oil spill.
From January 1 – June 30, 2010, spending by international visitors to the U.S. on their Visa-branded payment cards was up 20 percent over 2009, with the largest contributions coming from Canada ($4.6 billion) and the United Kingdom ($1.2 billion).
While the oil spill began in April, its effect on tourism wasn’t seen until June according to new data released by Visa today in its Tourism Outlook: USA report. Inbound spending by international travelers on Visa cards was up in May 2010, compared to 2009. Just one month later, the effects of the spill began to reflect on the region’s tourism economy. From May 2010 to June 2010, the Gulf Region saw a significant 42 percent ($21.7 million) decline in spending by international Visa cardholders traveling to the United States.
Posted by: Paul Wilke, Visa Corporate Relations on August 31, 2010 at 11:51 am
