Viewpoints

Visa’s Blog – Visa Viewpoints

PERSPECTIVES ON DIGITAL CURRENCY

Dec 5, 2013

Travel & Tourism

The Rich Will Continue Spending More…On Travel

Affluent travelers are expected to spend at least $1,000 more per holiday in the next year. Typically creatures of comfort, their top holiday destinations for the next year are still the modernized cities of the USA, UK and Australia. And one of the top deciding factors of where they go? Good weather apparently.

Another quirk of the affluent traveler? A need to connect with their internet banking facilities regardless of where in the world they are.

BBC Fast Track presenter, Carmen Roberts, speaks to Visa’s James Lim who reveals the difference between global and Asian affluent travelers in their top travel destinations and how they spend.

 

To find out more about the Study, download a copy of the report here.

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Posted by: Jag Mistry, Corporate Relations, Visa Inc. on December 5, 2013 at 6:28 pm

Sep 19, 2013

Hotwire and V.me Keep Summer Travel Going

With kids back in school and Labor Day behind us, September is a great time to snatch up last minute travel deals, and Hotwire and V.me by Visa are now making it even easier to buy them. Using V.me, busy travelers can find and book their favorite hotels at deep discounts using Hotwire and checkout with just a few clicks of the mouse.

Travel continues to be one of the most popular categories for eCommerce – 7 of 10 travelers booked their vacation entirely online last year.  And while eCommerce marks its eleventh consecutive quarter of double-digit year-over-year growth, it’s worth noting that according to comScore, 67% of online shopping carts are still abandoned before a purchase is ever completed.

Merchants recognize that simplifying check-out means reducing online cart abandonment, particularly as mCommerce transaction begin to gain in popularity.  Visa is helping #SavetheCart by offering V.me to streamline checkout and remove the hassle of entering bill to, ship to and account information with each purchase, no matter your device.

Learn more about how people are booking their travel today in the infographic below.

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Posted by: Kyrssa Guntrum, Visa Corporate Relations on September 19, 2013 at 9:50 am

Aug 12, 2013

Around the World We Go!

Where will your next travel adventure take you? Do you plan to relax on a beach, immerse yourself in the traditions of a new country, or connect to family roots around the world? According to those surveyed in our Global Travel Intentions Study (GTI), Americans are thirsting for culture, connected online and ready to spend 40 percent more on their next international trip. Global travelers, on the other hand, are more cautious, anticipating a spend increase of less than five percent on their next international trip. 

 

 American love for technology extends to planning international travel. According to the survey, nearly 80 percent of Americans rely on online sources for planning travel compared to only 71 percent of international respondents. When it comes to booking, Americans are even more likely to choose machine over man, utilizing online sources about 20 percent more than their global counterparts. Only the youth have put their trust in social media with nearly one in five first time travelers citing social networking sites as crucial to their planning process.

 

For more information, visit the Visa 2013 Tourism Media Kit.

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Posted by: Nick Talwar, Head of North America Credit Products on August 12, 2013 at 9:01 pm

Aug 2, 2013

Are Travellers Addicted to Gadgets?

What gadgets are a traveller’s best friends and what do they use them for? And which country has the most connected travellers?

BBC Fast Track presenter, Carmen Roberts, speaks to Visa’s Ross Jackson on what Visa’s Global Travel Intentions Study revealed around the influence of technology on travel – pre, during and post-trip.

 

To find out more about the Study, download a copy of the report here

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Posted by: Jag Mistry, Corporate Relations, Visa Inc. on August 2, 2013 at 12:12 pm

Jul 31, 2013

A Conversation With Visa on Global Travel Trends

The latest version of Visa’s Global Travel Intentions Study reveals positive news for the Travel and Tourism industry.

BBC Fast Track presenter, Carmen Roberts, speaks to Visa’s Elizabeth Buse, Ross Jackson and James Lim on the Study’s findings, revealing the latest insights into today’s global traveler – where they are going, what they are doing, and how much they are spending.

 

 

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.

To download a copy of the report, please click here

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Posted by: Jag Mistry, Corporate Relations, Visa Inc. on July 31, 2013 at 3:44 pm

Jun 25, 2013

Keep Safe & Travel On: Tips for a Fraud Free Holiday

You could be lying on the pristine beaches of Phuket this weekend, or trekking along the Great Wall of China the next. With budget flights on the rise and an ever abundant array of attractive travel packages on offer, getting away to an exotic locale or a dazzling metropolis has never been easier.

It’s no wonder then that despite an uncertain economic climate, international tourist arrivals crossed the 1 billion mark in 2012, and is expected to grow another three to four percent.  Moving in tandem with the rise in travel is also the growth in tourism receipts. In 2012 alone, global travel spending grew a healthy seven percent to reach €875 billion, or US$1.15 trillion. 

As travel becomes easier and more accessible, so have the methods of payment. Long gone are the days when cash or traveler’s checks were the only accepted forms of currency. Today, Visa cards are accepted at tens of millions of merchants around the world and provide 24-hour cash access at over 2 million ATMs in more than 200 countries.  Not only are payment cards more convenient than cash, they are safer too. Cash can be hard to keep track of and easy to misplace, especially when you’re changing planes or hotels. However, cards can be replaced if they get lost or stolen.

Nevertheless, as you plan your next vacation, keep in mind that no matter where you go, criminals are on the lookout for new methods to commit fraud at the expense of your wallet and peace of mind. So, whether you’re traveling on business or taking a well-deserved vacation, refer to our infographic for some practical suggestions on how you can make travel more secure, hassle free and enjoyable:

 

Click image to view full size infographic

 

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Posted by: Jag Mistry, Corporate Relations, Visa Inc. on June 25, 2013 at 11:56 am

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 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

Mar 20, 2013

Japan, China and Africa took big travel strides in 2012

Bags were packed. Tourists donned their favorite travel attire. And Visa account holders traipsed across the globe in 2012. While tourism spending growth on Visa accounts slowed slightly compared to 2011, travelers from Brazil, Canada, Mexico and the United States were still stretching their travel legs and spending along the way.

Roaming the world – People traveling to Brazil, Canada, Mexico and the United States spent $57 billion on their Visa accounts–a six percent spend increase in these countries compared to 2011.

China continues to jet to the U.S. – Visa account holders from China had their sights set on the U.S. as they moved into the top three contributors to U.S. inbound tourism. Chinese Visa account holders increased spending by almost 30 percent in 2012 – knocking the United Kingdom out of the top three for the first time since 2009.

Seeking adventure in Japan – Visa account holders from the United States, Mexico, Brazil and Canada showed an increased interest Japan – increasing travel spend in the country by an average of 25 percent, spending $948 million in 2012.

For more information about the 2012 Travel Snapshots, visit our Tourism Media Kit. For information about traveling with your Visa card, visit visa.com/travel.

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Posted by: Lucas Mast, Visa Corporate Relations on March 20, 2013 at 5:29 am

Mar 13, 2013

Brazil Experiencing Business Travel Boom

Visa has long recognized the importance of travel and tourism to global economies. In addition to working with tourism entities around the world, we also work with organizations like the Global Business Travel Association (GBTA) to understand the key trends in business travel. We invited the GBTA to share the latest findings of the GBTA BTI™, an index of business travel spending sponsored by Visa. For more information, to read the entire report or any past BTI outlooks, visit www.gbta.org. – Tad Fordyce, head of global commercial solutions at Visa Inc.

Each year the Global Business Travel Association (GBTA) takes a comprehensive look at business travel spending in key countries throughout the world in our GBTA BTI™ Outlooks. The reports, which are sponsored by Visa, help companies and the travel industry understand the current business travel landscape, make better decisions about their travel spending and forecast future business travel trends.

Today, we released the GBTA BTI™ Outlook report on Brazil, which confirms that Brazil continues to be red hot in terms of travel. While total travel spending is expected to rise with large number of tourists anticipated to visit the country with the 2014 FIFA World Cup™ and the 2016 Rio 2016 Olympic Games, business travel is also booming in the largest South American economy.

The GBTA BTI forecasts Brazilian total business travel spending to grow 14.3% in 2013 to $34.5 billion, and will continue to grow another 16.1% to $40 billion in 2014. With these forecasts, Brazil business travel spending is on track to surpass Italy, France and the UK over the next two years. This impressive feat is even more astounding when you consider Brazilian business travel spending has nearly tripled since 2000, from $11 billion to more than $30 billion in 2012.

When examining what’s driving the growth, domestic business travel continues to be the bulk of the spending, with a forecasted 12.9% growth in 2013 to more than $27 billion. International outbound travel from Brazil is expected to grow even faster, expanding 20.2% in 2013 to a total of $7.1 billion. These numbers correspond closely to Brazil’s overall economic and job growth.

While Brazil is poised to continue its rapid ascent in both economic and business travel growth, there are still issues that need to be addressed to maximize the nation’s opportunity. Both domestic and international inbound business travelers can expect to see higher air and hotel prices, driven by increased demand and a lagging supply. The country is continuing to rapidly modernize its travel infrastructure, including Visa’s efforts to increase the country’s electronic payment network, helping to ensure that business travelers can pay securely and conveniently throughout Brazil.

Joe Bates, Vice President, Research, GBTA

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Posted by: Visa Corporate Relations Team on March 13, 2013 at 9:48 am