Visa: Filipinos spending peaks during the Holiday season

Visa Consulting and Analytics has identified key Filipino spending patterns during the festive season, including peak spending trends.

Filipinos spend the most in December

How do Filipinos Pay during Christmas?

Global digital payments leader Visa shares insights into how Filipinos spend during the Christmas Season, where December emerged as the peak month for transactions. Active credit card payments significantly increased during December compared to the rest of the year's transactions.

Spending Peaks on December 29 and tapers off 

Visa's data analysis reveals that Filipinos start shopping early for Christmas. Local card transactions rise steadily through December. Notable spikes emerge every weekend and hit their peak on December 23, the last weekend before Christmas Eve. This reflects the holiday rush in malls and commercial districts as Filipinos complete gift shopping before family celebrations. Domestic spending eases as people return to their hometowns.

Inbound tourist top spending locations

For Filipinos travelling abroad, the trend is increasing spending after Christmas, and it peaks on December 29. This then slowly tapers off toward the New Year. Visa says that this indicates continued leisure and travel-related purchases during overseas vacations.

Surprisingly, the holidays also bring increased foreign spending within the Philippines. Tourists and returning overseas Filipinos drive higher local transactions using foreign-issued cards. The top inbound corridors by payment volume in U.S. dollars are in the United States, Taiwan, South Korea, Singapore, and Japan.

Holiday spending goes beyond Metro Manila with six of the top ten destinations outside the capital, including Cebu, Angeles, and Davao.

What do inbound travellers spend their money on?

Inbound tourists from the US, South Korea, Singapore, Australia, and Hong Kong spend the most on lodging. Taiwanese and Japanese tourists favor spending on entertainment. Indian travellers allocate more to education and government. Canadians and Americans favor food and groceries. 

As the holiday spending continues, Visa claims to stay committed to enabling secure, seamless, and innovative payment experiences for Filipinos and travelers alike. These insights highlight how payments power connections during the most festive time of the year.

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