20 Sep 2011

Spending surges during Rugby World Cup

6:05 pm on 20 September 2011

Latest figures from Paymark show spending though overseas credit cards has surged in the first 10 days of the Rugby World Cup.

Paymark, which processes three-quarters of all electronic retail transactions, says spending is up by 32%, or $12 million, compared with the same period last year.

Chief executive Simon Tong says pockets of regional spending paint a picture of tourists following their teams as they move to different cities.

Mr Tong says there have been splashes of spending amongst the hospitality sector and car rental companies.

However, credit card spending in general is tracking at a more modest 3.5% annual growth rate.