Wednesday, June 20, 2018

UBRD: Cardholders spent most money in U.K., Maldives

Analysts from the Ural Bank for Reconstruction and Development (UBRD) announced the results of its two-month study of customer spending in foreign countries, naming the U.K. and Maldives as the two most popular locations among cardholders.

In similar studies conducts between 2011 and 2013, the top destinations among UBRD cardholders were the U.K., Luxembourg, Turkey, the U.S. and Spain. Bank officials attributed the increased level of spending in the Maldives among UBRD cardholders to the high costs associated with traveling there. On average, a single UBRD customer spends $2,600 per person during a trip to Maldives.

"The popularity of the Maldives is growing every year," UBRD Director Olga Gulyar said. "A high level of tourist spending in this is quite understandable. Maldives--it's basically an expensive destination. This archipelago of small islands, one at each hotel. In addition to staying in a hotel and on the beach in the Maldives to engage in nothing, so traditionally there is a great demand for alcohol. And this [is] the main reason for spending."

Meanwhile, bank officials said they were less surprised by the high level of customer spending in the U.K. and other historically popular locations among cardholders, due to the frequency of business travel to these countries and their popularity as more affordable family vacation destinations.

"The U.K. and Luxembourg are popular with business representatives, which are often sent to these countries for their companies for transactions or engaging in business activities," Gulyar said. "Also here send their children to receive a prestigious education. Turkey and Spain for many years, remains one of the most popular countries for a family holiday and shopping. United States in this regard universal country: someone goes there for someone on vacation, and some for study."

The bank also noted an increased level of customer spending in Brazil over the past two months, due largely to the country's recent hosting of the 2014 FIFA World Cup. On average, URBD customers spent $2,290 per person during their stays in Brazil for the World Cup.