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Wednesday 25th July 2012 | 05:40
VISA press release
As the eyes of the world turn to London this week, the UK is already embracing sporting fever following Bradley Wiggins’ historic victory in the Tour de France. Bicycle shops, sales and services – a traditionally flat sector - enjoyed a 6.3% rise in spending week on week, whilst rising 5.1% year on year, according to the Visa London 2012 Games Spend Tracker.
Spending by international visitors in the UK on Visa cards increased 5.1% year on year, totaling £464.1m during the week. Categories like tourist attractions and exhibitions (up 13.2% year on year) and tickets and theatres (up 53% year on year) indicate visitors are taking in the sites and perhaps taking advantage of the Cultural Olympiad ahead of The Games beginning on Friday.
Visitors from the USA spent £56.4m on their Visa cards in the UK last week making them the top country in terms of overall spending. When it comes to average transaction values, visitors from China spent £198.56 per transaction, over three times the amount spent by American visitors (£59.60).
Domestic spending rebounded slightly week on week, with an increase of 0.2%. This domestic growth was driven by spending on clothes & footwear and hotels & restaurants, which benefitted from increases of 1.2% and 4.2% respectively.