Visa reveals consumer spending trends during the weekend of the Paris 2024 Olympic and Paralympic Games, finding that commerce in Paris is vibrant and has a positive impact on the French economy. Small businesses in particular saw a 26% increase in sales from Visa spend.
Additionally, spending at theaters and museums increased by 159%, grocery stores increased by 42%, restaurants increased by 36%, retail increased by 21%, while entertainment-related businesses increased by 18%.
Which foreigners are the group that spends the most? 29% were cardholders from the United States, compared to the same period last year. The number of Visa cardholders from Japan increased by 129%, and Brazil by 33%.
Flight bookings ahead of the Paris 2024 Olympic Games increased by 39% compared to the same period in 2023. The number of travelers to Paris under the age of 35 increased by 120% compared to the same period in 2023, with the largest numbers of tourists coming from the United States at 64%, Germany at 61%, and Spain at 27%.
Spending in cities also increased. Sports venues outside Paris include Saint-Etienne, up 214%, Lille, up 100%, and Marseille, up 38%.
Charlotte Hogg, CEO of Visa Europe, said that this time around, small businesses will thrive, benefiting from Paris hosting 78% of digital card payments coming from abroad. It is tap to pay (contactless), which is up 9% compared to the same period last year.
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