Overseas Credit Card Charges Climb as Local Spending Lags
Credit card spending by Bangladeshis abroad has nearly doubled compared to domestic usage, while spending by foreign nationals using credit cards in Bangladesh has also been rising gradually, according to the latest data from Bangladesh Bank.
An analysis of month-on-month statistics shows that in October, domestic credit card spending increased by Tk 7.6 billion within a single month. During the same period, overseas credit card transactions by Bangladeshis rose by nearly Tk 4 billion, while foreign nationals spent around Tk 2.4 billion more in Bangladesh using credit cards.
According to the report, foreign visitors spent Tk 17.509 billion through credit cards in Bangladesh in September. This figure increased to Tk 19.907 billion in October.
Among foreign nationals, the United States topped the list in credit card spending in Bangladesh throughout the year. In October alone, US citizens spent Tk 4.402 billion in the country. The United Kingdom ranked second with Tk 2.1 billion in spending, followed by India in third place with Tk 1.8 billion spent through Indian-issued cards.
Meanwhile, in terms of overseas credit card spending by Bangladeshis, the United States again led the list in October, where Bangladeshi cardholders spent Tk 7.26 billion. Thailand followed with Tk 5.63 billion, the United Kingdom with Tk 5.22 billion, Singapore with Tk 4.52 billion, Malaysia with Tk 4.5 billion, Saudi Arabia with Tk 3.1 billion, India with Tk 3.26 billion, the Netherlands with Tk 2.3 billion, Canada with Tk 2 billion, the United Arab Emirates with Tk 1.9 billion, China with Tk 1.89 billion, Australia with Tk 1.7 billion, and other countries combined accounting for Tk 9.9 billion in spending.
Domestically, credit card transactions amounted to Tk 33.95 billion in September, rising to Tk 34.71 billion in October—an increase of Tk 7.6 billion within a month. Over the same period, overseas credit card spending by Bangladeshis rose from Tk 4.942 billion in September to Tk 5.342 billion in October, reflecting an increase of nearly Tk 4 billion.
DBTech/JNO/MUM/OR
