Visa Consulting and Analytics has identified significant spending patterns among Filipinos during the festive season, particularly in December, which is noted as the peak month for transactions. Active credit card payments saw a notable increase during this time compared to other months.
Data indicates that Filipinos begin their Christmas shopping early, with local card transactions rising steadily throughout December. Peaks in spending occur every weekend, culminating on December 23, just before Christmas Eve. This trend reflects the holiday rush as shoppers complete their gift purchases. After the holidays, domestic spending tends to decrease as people return to their hometowns.
For Filipinos traveling abroad, spending tends to increase after Christmas, peaking on December 29, before gradually tapering off toward the New Year. This suggests ongoing leisure and travel-related purchases during overseas vacations.
Interestingly, the holiday season also sees an uptick in foreign spending within the Philippines, driven by tourists and returning overseas Filipinos using foreign-issued cards. The top sources of this spending include the United States, Taiwan, South Korea, Singapore, and Japan. Notably, holiday spending extends beyond Metro Manila, with several top destinations located outside the capital, including Cebu, Angeles, and Davao.
Inbound tourists from countries such as the US, South Korea, Singapore, Australia, and Hong Kong primarily spend on lodging. Taiwanese and Japanese visitors tend to focus on entertainment, while Indian travelers allocate more funds to education and government. Canadians and Americans are more inclined to spend on food and groceries.
As holiday spending continues, Visa remains committed to providing secure and innovative payment experiences for both Filipinos and travelers. These insights underscore the role of payments in fostering connections during the festive season.
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