Wealthy Visa cardholders in Thailand up spending by 30%
Spending growth among affluent Visa cardholders in Thailand tripled the pace of Visa’s overall business growth in the country, defying the economic slowdown and driven by increased travel-related expenditure, the payments giant announced on Tuesday.
Payment volume in the affluent segment grew at a rate of 30 per cent year on year for the first half of the company’s 2017 financial year, significantly outpacing Visa’s overall cardholder growth of 11 per cent in the Thai market.
“Affluent Visa cardholders are a discerning group, often looking for one-of-a-kind, world-class experiences. In an increasingly hyper-connected world, this means providing the jet-setting group with the kind of offers that would match what their counterparts in metropolises like London or Tokyo would enjoy,” said Suripong Tantiyanon, Visa country manager Thailand.
