World Cup fans ‘spent Sh2.3bn in the first four days’
A general view of The Mineirao Stadium in Belo Horizonte, Brazil. AFP
What you need to know:
The Visa report reveals that Angolans were the top African spenders over the four-day period, charging $1.2 million (Sh104.9 million) to their plastic cards to be ranked fifth globally.
Visa currently works with 26 out of Kenya’s 44 banks whom it issues debit and credit cards.
Kenyan soccer enthusiasts attending the FIFA World Cup in Brazil spent Sh1.3 million ($15,403) in the first four days of the football bonanza, data from payments firm Visa shows.
The global study into spending trends by football fans in Brazil between June 12 to June 15 shows that visitors splurged $27.4 million (Sh2.3 billion) through Visa card payments on accommodation, food and drinks as well as transport costs.
“These numbers reflect the significant impact that mega sporting events like the World Cup can have in boosting local commerce in host market economies,” said Jabu Basopo, country manager for Visa in charge of southern and eastern Africa.
The Visa Everywhere Travel Report says that the tourist spend by Kenyans in Brazil is more than 63 times the $243 (Sh21,288) spent over the corresponding four-day period last year. The spending by Kenyans makes up a measly 0.06 per cent of the money splashed by World Cup revellers in the opening days using Visa cards.
Visa analysed travel data and cross-border spend on all its products including credit, debit and prepaid payment cards to compute the data. The California-based payments processing firm did not provide the number of Kenyans at this year’s FIFA World Cup included in the study but projected the football fete will attract 600,000 foreign visitors to Brazil.
The Visa report reveals that Angolans were the top African spenders over the four-day period, charging $1.2 million (Sh104.9 million) to their plastic cards to be ranked fifth globally.
It shows Americans swiped their Visa cards to the tune of $6.6 million (Sh576.9 million) to top the list of big spenders in this year’s World Cup followed by the British (Sh201 million); French (Sh148.6 million) and Mexicans spent $1.3 million (Sh113.6 million).
Visa has a network of 1.4 million point of sale terminals — strategically located in 12 FIFA World Cup venues and throughout Brazil — for cashless payments. Visa currently works with 26 out of Kenya’s 44 banks whom it issues debit and credit cards, certifies lenders’ security systems and processes payments on its international Visa network.
Brazilian officials have forecast that the FIFA World Cup would generate $3 billion (Sh262.2 billion) in spending over the month long sporting event. The top 10 countries spent $17.8 million (Sh1.5 billion) in the four days, or an average of $4.4 million (Sh389 million) a day.
Visa said visitors spent the most in lodging and accommodation which accounted for nearly a fifth or $5 million (Sh437 million) and local restaurants raked in $2.5 million (Sh218.5 million) in card payments.
