CORRECTING and REPLACING Visa Data Shows Boost in Tourism in France as the Olympic Games Paris 2024 Comes to a Close

Rhea-AI Impact

(No impact)

Rhea-AI Sentiment

(Neutral)

Tags

08/12/2024 - 04:00 PM

42% more tourists traveled to Paris in the first week of the Olympic Games, with US Visa cardholders representing the largest share of visitors (72%, year-on-year increase)
Significant increase in travelers to other cities hosting Olympic Games events, including Lille, Saint-Etienne and Marseille
Biggest spend came from fans who attended the competitions compared to those who did not

SAN FRANCISCO--(BUSINESS WIRE)-- Please replace the release dated Aug. 12, 2024 with the following corrected version due to updated data.

The updated release reads:

VISA DATA SHOWS BOOST IN TOURISM IN FRANCE AS THE OLYMPIC GAMES PARIS 2024 COMES TO A CLOSE

42% more tourists traveled to Paris in the first week of the Olympic Games, with US Visa cardholders representing the largest share of visitors (72%, year-on-year increase)
Significant increase in travelers to other cities hosting Olympic Games events, including Lille, Saint-Etienne and Marseille
Biggest spend came from fans who attended the competitions compared to those who did not

As the Olympic Games Paris 2024 ended with the Closing Ceremony yesterday, Visa, the Official Payment Technology Partner of the Olympic and Paralympic Games, issued further data revealing the positive impact of Paris 2024 on tourism and spending in France. Not only did Paris attract 42% more Visa cardholders in the first week of the Olympic Games than in the same period in 2023, but other cities hosting Olympic Games events also saw significant increases in visitors and spending, especially among fans who attended the competitions.

Paris cementing its leadership as a global destination¹

42% increase in the number of Visa cardholders who traveled to Paris for the Olympic Games Paris 2024
Other Paris 2024 host cities benefited from the Olympic Games, with Lille seeing a 188% increase in visitors, Saint-Etienne 150%, and Marseille 48%
Visa cardholders from the US are the largest share of visitors from any country with a 72% year-on-year growth, followed by Latin America and the Caribbean (+62%) and Asia Pacific (+57%)
Visa cardholders from Europe also traveled to France, including the UK (+53%) and Germany (+53%)

Top Spending Patterns²

Visa cardholders spent more in Paris than in the previous year, with the UK leading the year-on-year growth with a 42% increase in their spending, followed by Latin America and the Caribbean (+34%) and US (+32%)
Visa cardholders who attended Paris 2024 competitions spent 20% more than those who did not, with 39% of European fans (excluding France) spending more
The most significant year-on-year increase in spending levels in Paris was seen in restaurants +49%

Charlotte Hogg, Chief Executive Officer of Visa Europe, said: “Our data shows a boost for the Parisian economy from hosting the Olympic Games. Paris has consistently been one of the most visited cities in the world, but I’m sure that the amazing experience of being in the city for the Olympic Games or watching the events at the many iconic venues from afar will draw many more visitors in the years to come. We’re delighted to have played our part in making the Olympic Games Paris 2024 a truly unforgettable experience.”

Visa’s responsibility to provide payment systems for the Olympic and Paralympic Games requires a robust and venue-specific plan combined with large-scale operations. Working hand-in-hand with the Paris 2024 Organizing Committee for the last three years, Visa has built a custom payment network across Paris and beyond, which ensures Visa contactless payments are accepted at 3,500 points of sale across 32 Olympic venues and 16 Paralympic venues.

Visa has launched the Visa Go app to connect spectators and tourists with local businesses during Paris 2024. Visitors can download the Visa Go App here: https://go.paris.visa.com/home

About Visa Inc.

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

Disclaimer:

Case studies, statistics, research and recommendations are provided “AS IS” and intended for informational purposes only and should not be relied upon for operational, marketing, legal, technical, tax, financial or other advice. Visa Inc. does not make any warranty or representation as to the completeness or accuracy of the Information within this document, nor assume any liability or responsibility that may result from reliance on such Information. The Information contained herein is not intended as legal advice, and readers are encouraged to seek the advice of a competent legal professional where such advice is required.

_______________
¹ Figures compare the periods from 2024-04-01 to 2024-08-02 with 2023-04-01 to 2023-08-02
² Figures describe in-person transactions in Paris between 2024-07-26 to 2024-08-02.