US Visa cardholders contributed an impressive $733 million to the UAE's tourism economy last year, the finance provider has announced.
In a new report, the group identified a 75 per cent year-on-year increase in Visa credit card spending in 2008, while Emiratis spent some $262 million on card while visiting the state, a 49 per cent increase on 2007.
"This data enables businesses to improve their offerings and marketing strategies to ensure that they appeal to travellers around the globe," said Visa's president of North American business.
Meanwhile Kamran Siddiqi, general manager for Visa in the Middle East and North Africa, said that it was vitally important for the company to understand its customers spending habits and continue to produce cards that are tailored to their needs.
For those who have visited the emirates and are keen on investing in property for sale in the UAE, Dubai Islamic Bank has recently announced that it is offering new mortgage products with a loan-to-value rate of up to 90 per cent.