Credit Card News
Advertising Disclosure
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.
Credit Card Applications » News » Travel » Foreign Travel Trends: Brazil and China Top Spenders

Foreign Travel Trends: Brazil and China Top Spenders

By
Add to Favorites:
Foreign Travel Trends: Brazil and China Top Spenders

Each year Visa releases their Travel Snapshot study, detailing the spending habits of Visa cardholders traveling to and from the United States, Mexico, Canada, and Brazil. Their just-released 2011 report shows that members increased their international travel spending yet again – 2010 also showed an uptick – and tourism spending numbers may soon even be back at pre-recession levels.

Ava Kelly, head of cross border initiatives at Visa, says “Tourism is a key contributor to economic growth so this upward trend in international travel expenditures can provide some welcome revenues for growing countries like Mexico and Brazil as well as the U.S. and Canada.”

Where Does the Money Go?

  • Visa card holders from the U.S. spent $3.5 billion in Canada during 2011, an amount that makes sense considering the ease with which Americans can travel to neighboring Canada. A more difficult destination to reach, China, showed a 27 percent increase in spending by U.S. Visa members – $941 million in 2011 compared to $741 million in 2010.
  • Brazil, meanwhile, was a huge contributor to international tourism economy during 2011. In the United States alone, Visa account holders from Brazil spent $1.9 billion in 2010 and $2.7 billion in 2011, a 41 percent increase that puts them in second place as highest spenders on U.S. tourism. Brazilians also increased their spending in Mexico by 56 percent, Italy by 44 percent, the United Kingdom by 41%, and France by 30 percent. Brazilians, according to Time Magazine, spend more on tourism per capita than people from any other country, shelling out $5.9 billion total in the U.S. in 2010 (the $1.9 billion figure is the amount spent using their Visa cards).
  • South of the border, Russian Visa holders upped their spending in Mexico by 73 percent, while Argentineans spent 58 percent more and Peruvians and Columbians were tied at a 30 percent increase.
  • The top three Visa-spending nations in Canada were the United States ($3.5 billion), France ($351 million) and the United Kingdom ($348 million), but Chinese visitors to Canada injected a healthy $321 million into the Canadian economy using their Visa cards.

Foreign Fees = No Fun

Whenever travelers use their credit cards in foreign countries, they need to be aware that many cards charge foreign transaction fees, which used to be called currency conversion fees. These are usually around 3 percent, and are charged whenever cardholders process a transaction in another country. There are cards that don`t charge this fee – in November 2011 Discover did away with foreign transaction fees on all its cards, something Capital One had already done. For frequent travelers, carrying a no-foreign-transaction-fee card should be a no-brainer.

When traveling in another country, you should also beware of fees that many banks charge for things like withdrawing cash from ATMs or using debit cards. Always check with your bank if you are unsure what their policies are on foreign transactions.

So, where would you like to go? We hear Brazil is nice this time of year – perhaps Americans should return the favor and throw a little money into the Brazilian economy, while sunbathing on the Brazilian beach. Bon Voyage – and don`t forget your no-transaction-fee credit card!

Add to Favorites:

Related News:

Visa Dominates the Co-branded Travel Credit Card Market

By Dar Dowling, Posted: August 28, 2013

Visa is the top network for airline and hotel credit cards in the U.S., according to a new study on travel loyalty cards. Continue reading
Double Points For Conservation With National Geographic Card

By Dar Dowling, Posted: April 23, 2015

The National Geographic Society is all about animals, nature and culture, and now they have a credit card having partnered with First Bankcard to launch the National Geographic Visa Card, which offers double points on all National ... Continue reading
New Travel Cards in the Market

By Dar Dowling, Posted: August 26, 2013

Royal Caribbean Cruises and PNC Bank have each teamed up with Visa to launch new Signature credit cards offering travel rewards, perks and bonuses. Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 50,000 bonus miles after you spend $3,000 on purchases in the first 90 days — that's enough to redeem for a $500 travel statement credit
For Excellent/Good Credit
Earn 30,000 American Airlines AAdvantage® bonus miles after making $1,000 in purchases within the first 3 months of account opening
For Excellent/Good Credit
$250 Air Travel Credit each year
For Excellent Credit