Visa cardholders spending up during last year's Grand Sale
Thailand is expected to attract more shoppers this year, judging from the growth in spending through Visa cards.
Somboon Krobteeranon, Thailand country manager, said Visa cardholders’ total spending in Thailand between June and August 2014 grew by 16 per cent from to same three months in 2013, the period of the Amazing Thailand Grand Sale.
Despite the political crisis at that time, Thais spent more on their credit cards, posting growth of 22 per cent during the three-month shopping season.
Among foreigners, Chinese and Germans posted the highest spending growth at 14 and 13 per cent respectively.
According to Visa, 57 per cent of total spending was in Bangkok, followed by Phuket with 15 per cent and Pattaya and Koh Samui with 8 per cent each.
The data show that Chinese and Russian tourists preferred luxury products, while Japanese loved to pay for food. Visitors from the United Arab Emirates and the United States spent on medical care.
"Thailand is expected to continue attracting many tourists this year if there is no crisis," Somboon said.
He added that Thailand was the region’s top market in terms of the number of cardholders, with more than 40 million credit cards.
