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UOB card spending up 35% in week of Taylor Swift concerts
The Straits Times
|March 26, 2024
Spending by credit and debit card holders in Singapore using UOB'S payment infrastructure surged 35 per cent week on week over March 4 to 10, when four of pop star Taylor Swift's concerts here took place.
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According to first-quarter data released on March 25, spending across almost all tourism-related categories saw a marked surge, led by spending at clothing retailers (up 85 per cent), transportation and travel (up 80 per cent), and amusement and entertainment (up more than 50 per cent).
Hotels rang in nearly 45 per cent growth in card billings, while food and beverage receipts rose more than 30 per cent.
UOB noted that locations in the Marina Bay precinct and Central Business District that are close to the Singapore Sports Hub - where Swift's The Eras Tour concerts were held outperformed national levels.
The bank's card holders alone spent more than $30 million purchasing The Eras Tour tickets, with Singapore-registered cards accounting for almost 75 per cent of total billings, added UOB.
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