KARACHI: Visa has reported an 80 per cent year-on-year (YoY) increase in spending on premium consumer cards in Pakistan during the Ramazan and Eidul Fitr period, reflecting higher outlays on travel, retail and food.
According to Visa’s latest Retail Spend Monitor, overall spending patterns shifted during Ramazan and peaked around Eid, with total spending rising 10 per cent during the Eid holidays.
Inbound spending by international visitors to Pakistan increased 30 per cent, while outbound travel spending by Pakistani consumers rose around 35 per cent, with a growing preference for longer trips. Spending to destinations such as Saudi Arabia, the UAE and the UK climbed 55 per cent.
Domestically, grocery spending rose 25 per cent in the week before Ramazan, while in-store retail and dining accounted for a major share of spending during the month. Transactions also shifted to later hours, with post-Iftar spending up 30 per cent and pre-Sehri activity surging 85 per cent.
During Eid, retail spending increased 40 per cent and food-related spending rose 15 per cent compared to the preceding days.Country Manager for Visa in Pakistan & Afghanistan Umar S Khan said the seasonal surge highlights evolving consumer behaviour and opportunities for businesses to tailor offerings during peak periods.
