DUBAI – Latest research from Visa, one of the world's leading payment solutions providers, has revealed that Saudi Arabia is the fastest-growing GCC country when it comes to Visa account holders spend in the UAE. Visa's latest "Tourism Outlook: UAE" report that uses VisaVue Travel data compares tourism receipts from across the UAE in 2010 and 2011, providing a unique insight into where and how international visitors are spending their money. Saudi Arabia's spending shot up 73.8 percent, with a total 1.1 million transactions made on Visa debit and Visa credit cards in the UAE during 2011, with only Angola recording a higher growth rate internationally (89.1 percent). This growth resulted in a total spend of $326.3 million, making visitors from the Kingdom the fourth biggest spenders, just behind the UK, Russia and the US. Saudi Arabian visitors to the UAE spent the most on 'accommodation' (up 80.1 percent to $127 million), followed by expenditure in the 'other retail' category (up 62.6 percent to $94.1 million), and 'other travel and entertainment', which was up a staggering 90.5 percent to 21.8 million. International spend meanwhile saw huge growth across a number of sectors, most notably in receipts from 'steamships and cruise lines', which recorded the greatest year-on-year growth with a staggering 641.2 percent increase - from $9,000 in 2010 to $69,581 in 2011. Department stores (35.77 percent), 'other retail' (35.52 percent), and 'other travel and entertainment' (31.30 percent), were also among the fastest-growing categories among global tourists. Ahmed Gaber, Country Manager for Visa in Saudi Arabia, said: "This report highlights the ongoing appeal of the UAE as a destination for Saudi travelers, as well as underlining the importance of Saudi as a source market of considerable income for the UAE tourism industry. Visa ensures travelers can make purchases and payments securely and conveniently." – SG
