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South Africans splashing out huge in Brazil
Bafana Bafana - the South African football team may not have qualified for this year’s World Cup in Brazil, but this has not stopped the South African fans from spending money at this world class event. As per Visa’s Everywhere Travel Report, approximately R1.7 million was splashed by the South Africans with Visa cards during the tournament’s 4 day opening period, in Brazil, from 12th June to 15th June. This is 174% more than this time previous year.
Global numbers reveal that over US $25 million (around R265 million) was splashed by international visitors with their Visa cards in Brazil in the same period, which is a seventy four percent increase on the same 4 day period previous year and forty three percent more compared to the 1st 4 days of the Confederations Cup that was also hosted by Brazil in the year 2013.
Visa in South Africa’s Mandy Lamb stated that the numbers gave a little idea of the World Cup’s impact. These numbers show the important impact that top sporting events, such as the World Cup can have in boosting local businesses in host market economies. Lamb added that this positive trend aligns with Brazil’s expectation that over 600 000 international travelers may visit the country during this event – ultimately boosting the country’s economy.
Other nations that also reflected triple digit development include Australia (675.2%), Colombia (418%), Mexico (204.2%) and Britain (101.3%) during those 4 days.