Visa Estimates $90.2 Trillion in Global Commercial Spending for 2008, $20.3 Trillion in the U.S.

Monday, September 28, 2009 9:55 AM

(Source: Business Wire)

Visa Inc. (NYSE: V) today released the annual global Commercial Consumption Expenditure (CCE) index, which estimates that global commercial spending grew to $90.2 trillion and U.S. spending rose to $20.3 trillion in 2008. The annual Visa CCE report provides standardized tracking of business and government spending globally and is recognized as an industry benchmark for measuring commercial spending.

The 2008 global CCE is estimated to have grown at 10.9 percent from $81.3 trillion in 2007. The strongest growth rates were found in the Central/Eastern Europe, Middle East and Africa region at 23.7 percent and the Latin America/Caribbean region at 17.4 percent. Europe held the largest share of global CCE spend, followed by Asia Pacific; the United States; Central/Eastern Europe, Middle East and Africa; Latin America/Caribbean and Canada. In this year's index, Asia Pacific's spending share surpassed the United States' for the first time.

"As financial institutions around the world look to optimize their commercial payment programs, the CCE data provides a valuable tool to help show where businesses and government are spending," said Darren Parslow, Head of Global Commercial Products, Visa Inc.

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