Viewpoints

Visa’s Blog – Visa Viewpoints

PERSPECTIVES ON DIGITAL CURRENCY

Apr 24, 2013

Global Travel Budgets On the Rise: Visa’s Latest Travel Barometer Confirms Industry Growth

This week, Visa announced the results of its latest iteration of its Global Travel Intentions Study series – a look into the behavioral trends of today’s traveler. Responses from the 12,631 travelers from the 25 countries surveyed are split by region and include destination choice, spending habits, budgets, transport preferences and future intentions, all of which reveal a thriving and rapidly evolving travel landscape.

One of the most interesting findings is that budgets are no longer the top concern when choosing a holiday destination. The pull of attractions, scenery and rich cultural experiences are now stronger reasons for travel.

As if that wasn’t good news enough for the Travel and Tourism industry, the Study also showed that global travel budgets are set to increase. While global average budgets for travelers will increase by at least five percent, travelers from Asian markets are expected to increase their budgets by an average of 46 percent.

Amid the global economic uncertainty of the past four years, these findings hint at a welcome change in both the financial landscape and consumer mindset, suggesting either economic recovery or a growing aptitude for budget management. Both herald further good news for the health of international and national economies and will provide exciting opportunities for everyone involved in the Travel and Tourism industry globally.

Visa has long advocated that, as one of the world’s largest, most robust and democratic industries, Travel and Tourism has enormous potential to contribute towards stimulating economic growth, creating opportunity for wealth in both mature and emerging economies. In developing economies particularly, tourism provides a gateway to economic progress and electronic payments have played an important role by allowing countries to capture greater tourist spending and providing travelers with a form of exchange that is secure and convenient.

By identifying changes and developments that allow for a better understanding of the Travel and Tourism environment, the Study is part of Visa’s commitment to increase the collective level of information that the industry can use to make intelligent decisions – to benefit both the traveler and the industry at large. Cross-border understanding and co-ordination have never been more important for the Travel and Tourism industry, and Visa is committed to using the results of the Global Travel Intentions Study 2013 to help private and public partners understand and meet global demand, promoting growth across the industry.

For a summary of the results and for more detailed information on the Global Travel Intentions Study 2013, please visit this link.

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Posted by: Jag Mistry, Corporate Relations, Visa Inc. on April 24, 2013 at 10:45 pm

Apr 17, 2013

Split Bread Gets Rid of Cash and Ahead of the Curve

 

“Cash is dirty in a food environment,” says David Silverglide, co-founder of the hip San Francisco sandwich shop, Split Bread.

Split Bread offers it consumers multiple ways to pay, none of which include cash.  Customers can scan a QR code at their table and have their sandwiches delivered directly to them, use a card at a payment kiosk, or order online.

Only accepting electronic payments allows Split Bread to operate more cost effectively by not having to count and reconcile cash and customers can move in and out at a much quicker pace.

Smarter, faster, and in this case delicious.

To learn more about Split Bread and other restaurants embracing electronic payments, please visit Currency of Progress.

Related post: Visa Blog: Will 2013 Be the Year of Cashless Restaurants?

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Posted by: Lucas Mast, Visa Corporate Relations on April 17, 2013 at 11:25 am

Apr 11, 2013

Portfolios of Rwanda: Insights Into the Lives of the Financially Underserved

Rwanda Partners with Visa to Advance Financial  Inclusion

Last week in Kigali, Visa teamed up with Bankable Frontiers Associates, AFR and Ntare Insights to share the results of new research into the day-to-day lives of financially underserved Rwandans. Utilizing the Financial Diaries methodology derived from Portfolios of the Poor, the research, led by BFA Director and Portfolios co-author Daryl Collins, tracked the daily cash flows and financial activities of 59 individuals from 40 households over a two month period.

In a joint post today on CGAP, Visa and BFA discuss the research, including the finding that in markets like Rwanda, where significant strides have already been made to extend the reach of financial services, the evidence suggests that the challenge for the financial sector is less one of access and more one of relevance.

This new research, Portfolios of Rwanda, is just one aspect of Visa’s work in support of our Charter of Collaboration with the government of Rwanda. The charter, renewed in 2012, is helping to lay the foundation for electronic payments, promote innovation and build capacity to ensure the long-term sustainability of financial systems in Rwanda.

Related videos:
Voices of Inclusion: Daryl Collins
Product Development in Rwanda

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Posted by: Douglas Sabo, Visa Corporate Responsibility on April 11, 2013 at 10:58 am

Apr 10, 2013

Next Stop, Myanmar! Travel Tips for Navigating a Cash-Based Economy

In a cash-based economy like Myanmar, even frequent travelers may need to adjust some of their usual travel habits. Here are some practical tips that cover everything from hiring cars to obtaining local currency through ATMs, and are designed to ensure that travelers who want to get the most out of their journey are well prepared.

Click on the infographic below to  get some  helpful hints from Visa’s travel and tourism experts:

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Posted by: Lucas Mast, Visa Corporate Relations on April 10, 2013 at 7:08 pm