Visa records 34 per cent growth in international spending in the first week of Dubai Shopping Festival 2013

• Over US$153m spent in the first week alone on internationally issued Visa cards in UAE during region’s biggest shopping extravaganza 
• Russians, Britons and Saudis are among DSF’s highest spending international shoppers 
• Number of transactions during the week rose 32 per cent compared to first week of DSF 2012

Karachi, 28 January, 2013: International visitors to the UAE have spent over US$153 million on their Visa cards in the first week of Dubai Shopping Festival (DSF) 2013, registering a massive 34 per cent year-on-year growth over the first week of DSF 2012, according to statistics issued today by Visa, one of the world’s leading electronic payments networks and a lead sponsor of the region’s premier shopping event.

The results collected by the company’s Visa Vue® Travel data service showed that the total inbound Visa card spend in the UAE between 3 January and 9 January 2013, was over $153.35 million compared to $114.25 million during the first week of DSF 2012. International visitors used their Visa cards 539,391 times in the first week of this year’s DSF, compared to 408,096 times in the first week of DSF 2012, recording a significant 32 per cent year-on-year increase.

DSF 2013 got off to an excellent start, with spending on overseas-issued Visa cards on the first day of DSF touching $21.19 million – an increase of 22 per cent over the first day of DSF 2012. The number of individual transactions conducted on Day 1 of DSF 2013 also increased 19 per cent, to 71,036.

The statistics also revealed that cardholders from Russia, United Kingdom and Kingdom of Saudi Arabia were the top spenders during the first week of DSF 2013, contributing more than $33 million, $13 million and $9.3 million respectively to the UAE economy.

The top 10 inbound spending countries in the first week of DSF 2013 were:

	Countries	Total amount spent
1	Russian Federation	$33,036,977
2	United Kingdom	$13,162,829
3	Kingdom of Saudi Arabia	$9,317,308
4	United States of America	$9,233,983
5	China	$5,285,494
6	India	$4,912,453
7	France	$4,540,965
8	Kazakhstan	$4,420,080
9	Qatar	$4,096,757
10	Kuwait	$3,733,488

These international Visa cardholders along with local shoppers also have the opportunity to participate in Visa’s Big Box promotion, which offers consumers unique opportunities and multiple chances to win an exciting range of prizes. This is the biggest-ever campaign for Visa as the company marks its 18^th year of partnership with DSF as a key sponsor.

A secret grand prize is concealed within the Big Box at The Dubai Mall with shoppers being invited to guess as to what is on offer throughout DSF. Every transaction worth at least AED 200 with any Visa card also entitles consumers entry into the main prize draw for a chance to win the hidden grand prize . The secret will be revealed at the end of the festival but shoppers will be able to enjoy a number of activities around the Big Box throughout the month with the chance to win instant prizes daily.

“We have been very encouraged by the excellent start to this year’s DSF that has seen record levels of Visa card usage. This reflects growing confidence in the retail sector in both Dubai and UAE as a whole and a significant increase in shoppers recognizing the convenience and security of using their Visa cards for retail purchases during the shopping festival,” said Marcello Baricordi, General Manager for Visa in UAE.

“Visa is honored of its longstanding partnership with the DSF that has helped put the UAE on the global map, attracting visitors from all over the world to take advantage of the great promotions on offer. If the first week spending levels during DSF 2013 are any indications to go by, we could be set for a record breaking month.”

Visa has sponsored the leading shopping and entertainment event since its inauguration in 1996. As the official payment partner of DSF, Visa has the ideal platform to educate shoppers about the convenience and security of electronic payments while simultaneously rewarding them with value added prizes.

About Visa

Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world’s most advanced processing networks —VisaNet — that is capable of handling  more than 24,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

For more information contact:

Khurram Zia Khan or Afsar Khan

Ph: 35867576