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Macau Business Daily:UnionPay cards swiped US$6.52 trillion in 2014
2019-11-21


UnionPay International, a subsidiary of the state-backed China UnionPay card brand, said that the global transactions of UnionPay cards reached US$6.52 trillion (41.1 trillion yuan) last year, representing a year-on-year growth of 27.3 per cent.

In a statement issued on Monday, the card brand said that it expected the spending of Chinese outbound travellers would continue to grow this year, driven in particular by the ‘post-80s’ generation or the ‘millennials’ – a group of young travellers aged below 35 years.

Business Daily approached UnionPay International for the spending patterns of its ‘post-80s’ Chinese clients travelling abroad but had not received further information from the company by the time the story went to press.

‘The post-80s generation in China is now in the prime of its career life. They are technologically savvy, have higher disposable incomes compared to their parents’ generation and desire to see more of the world, making this group big spenders on international travel,’ UnionPay International noted in its statement. ‘Their spending potential is now drawing the attention of more overseas merchants to offer tailored services catering to their demands.’

‘UnionPay International has been expanding its market globally to cater to the spending demand of travellers, including Chinese millenials,’ the card brand said.

Mainland Chinese tourists comprise a majority of visitor sources for both Hong Kong and Macau: according to official data, total inbound Mainland Chinese tourists travelling in Hong Kong reached 47.2 million people in 2014, which represents 77 per cent of overall visitors; while for Macau, which received a total of 31.5 million of visitors in the year, 67.4 per cent, or over 21 million visitors, were from Mainland China.
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