Foreign card spending mimics semi-final 'madness'
Foreign card spending has seen a significant increase in revenue through Paymark's network as French and Kiwi fans await the deciding game at this year's Rugby World Cup.
Foreign card spending has seen a significant increase in revenue through Paymark’s network as French and Kiwi fans await the deciding game at this year’s Rugby World Cup.
Paymark has seen a significant increase in foreign card transactions over the duration of the recent semi-finals last weekend, with foreign card spending rising 36.1%, or $4.4 million compared to the same three days last year (Friday-Sunday).
As expected, Auckland being the host of both semi-final games last week reaped the greatest rewards with foreign card spending in the region up 69.9%.
Hospitality providers have seen the greatest increase in foreign card spending, with an 18.5% ($2.7 million) boost across the weekend with peaks coming pre and post games.
Head of sales and marketing at Paymark, Paul Whiston, says that although Auckland reaped the most obvious benefits during the Rugby World Cup, there were also rises in foreign card spending further south of the City of Sails.
“The increased hospitality spending in the Auckland region is no doubt due to the World Cup. But hospitality spending – and spending in general – also increased in the Bay of Plenty, Nelson, and Otago, activity more likely linked to the delayed school holidays.
Total spending (excluding fuel) in these three regions increased over the weekend by 7.3% in Bay of Plenty, 4% in Nelson, and 6.4% in Otago.
Mr Whiston says that spending over the weekend has pushed foreign card spending through Paymark’s network from the beginning of the Cup to 16th October, to $212.5 million, representing a year-on-year increase of 37.4%, or $57.8 million.
“Let’s hope that after the final game has been played, our overseas guests opt to stay on and venture outside the main metropolitan centres.”
Robert McCambridge
Tue, 18 Oct 2011
Tue, 18 Oct 2011
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Foreign card spending mimics semi-final 'madness'
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