"International visitors' spending grew by 42 per cent year-on-year to Rs 4,100 crore (Rs 41 billion) with Visa cards in India in 2004. We expect spending on Visa cards to grow by 60 per cent in India in 2005," Visa country manager Santanu Mukherjee said releasing 'Recent trends in spending by visitors to India'.
Of the total tourist spend of Rs 22,250 crore (Rs 222.5 billion) in India, he said 18 per cent was on Visa cards.
"As India is taking off as a global travel destination, better tourism data will help the country strengthen its competitiveness in attracting tourists and generating more high-value tourist spending," he said.
Tourist arrivals in India grew by 15.3 per cent to 2.7 million in 2003 and by 23.5 per cent to 3.4 million in 2004.
Mukherjee said Visa also dominates the domestic card spending with 60 per cent growth in 2004 to $3 billion (Rs 13,200 crore). Domestic card holders spent $2.6 billion (Rs 11,400 crore) in India and $350 million (Rs 1,540 crore) abroad.
"Domestic Visa cardholders' spending is also expected to grow by 60 per cent to $5 billion (Rs 22,000 crore) in 2005," he said.
Visitors from the US were the biggest spenders at Rs 1,280 crore (Rs 12.8 billion) followed by the UK {Rs 870 crore (Rs 8.7 billion)}.
New Delhi attracted the maximum 34 per cent international inbound spend followed by Mumbai with 20 per cent.
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