Global travel spending is on the rise, building momentum toward pre-recession levels, according to Visa’s 2011 Travel Snapshot.
The recently released report highlights key spend insights from its account holders traveling to and from the United States, Canada, Mexico and Brazil. Travelers from the United States increased tourism spend by 7 percent, those from Canada by 11 percent, and Mexico by 19 percent. Most notably, travelers from Brazil increased international travel spend on their Visa accounts by 32 percent in 2011 – 43 percent of which was in the United States.
Brazil proves to be a formidable contributor to the global tourism economy, increasing outbound spend by 32 percent.
Key Markets Spending Trends
Brazil: While the United States remains the top destination of choice for Visa account holders from Brazil, most European nations recognized double digit increases in travel spend by Brazilian Visa account holders in 2011. Spending by Brazilian Visa account holders increased by 30 percent in France, 44 percent in Italy and 41 percent in the United Kingdom.
United States: Brazil and China proved to be significant corridors for travel to the United States. Visa account holders from Brazil increased spend on travel to the United States by 41 percent, from $1.9 billion in 2010 to $2.7 billion in 2011, edging out the U.K. as the second highest total contributor to U.S. tourism revenue. Account holders from China increased travel spend within the United States by 61 percent, from $741 million in 2010 to $942 million in 2011. Similarly, account holders from the United States increased travel spend in China by 27 percent, from $741 million in 2010 to $941 million in 2011.
Canada: While Visa account holders from the United States ($3.5 billion), France ($351 million) and the United Kingdom ($348 million) remained the top three contributors to Canadian tourism, Visa account holders from China had one of the most significant increases with a 41 percent increase year over year, from $229 million in 2010 to $321 million in 2011.
Mexico: Visa account holders increased spending in Mexico by six percent in 2011. While Russian account holders increased travel spending in Mexico by 73 percent, travelers from South America also showed more interest in Mexico with Argentina (+58 percent), Brazil (+56 percent), Peru (+30 percent) and Colombia (+30 percent) following Russia with the greatest increases in travel spend to Mexico in 2011.