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Fri, 03/22/2024 - 10:37
Submitted by nhathong on Mon, 09/08/2008 - 11:20
Global credit-card provider Visa on September 5 released figures showing that Vietnam’s spending last year was about US$92.98 billion, an increase of 15.4 percent over 2006.

The figures were based on updated data on annual commercial spending using Visa’s Commercial Consumption Expenditure (CCE) index.

 

The CCE index provides standardised tracking of business and government spending globally and is recognized as an industry benchmark for measuring commercial spending.

 

The index also showed that annual commercial spending in other Asia Pacific nations grew to an estimated US$18.9 trillion in 2007, an increase of 13 percent on 2006.

 

The top five Asia Pacific economies in size of total business and government spending were Japan (US$5.2 trillion), China (US$4.9 trillion), India (US$2.3 trillion), Republic of Korea (US$2 trillion) and Australia (US$1.2 trillion).

 

“The markets across the Asia Pacific region vary in terms of the development and use of commercial-cards,” said John Hazlewood, director, Visa Commercial Solutions, Asia Pacific.

He added that the CCE index would help measure the penetration of commercial payment products more affectively and assist client institutions to develop solutions to meet the evolving payments needs of businesses and government.

VOVNews/VNS

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