Pre-paid cards recorded significant declines in transactions value and transactions volume during 2020, despite the number of cards in circulation increasing. The main reason for the reduced use of closed loop pre-paid card during the year was the social distancing and home seclusion that many Thai people adhered to in response to the COVID-19 pandemic. With so many people working from home and avoiding going out unless absolutely necessary, there were far fewer people using Rabbit cards to…

Significant declines were seen in transactions value across all categories of financial cards and payments over the course of 2020 as the COVID-19 pandemic took its toll on commercial activity of all types across Thailand. There were two main outcomes of the COVID-19 pandemic of specific relevance for financial cards and payments. The first is the lockdown that was imposed upon the country’s population between March and the end of May, which resulted in all consumer foodservice…

The impact of the COVID-19 pandemic in Thailand during 2020 was evident in the strong declines as seen in the debit card transactions over the course of the year. The positive growth recorded in difficult resections during 2019 turned negative over the course of 2020, with double-digit declines recorded in debit card transactions value as consumers reduced their spending overall due to the pressure on household incomes that has arisen from the economic uncertainty that has emerged in the…

Over the course of 2020, credit card transactions is expected to have recorded strong declines in both volume and value terms. The main reason for this is that many Thai consumers have sought to reduce their spending considerably in an effort to save money during the pandemic. Widespread economic uncertainty and a spike in unemployment, particularly in the crucial travel and tourism, hospitality and manufacturing sectors, has made many Thai people reluctant to engage with consumer credit,…

Prior to the emergence of the COVID-19 pandemic in 2020, charge cards was already a category of financial cards and payments under extreme pressure. This was mainly due to declining consumer interest in these types of financial cards as a payment method. Charge cards tend to be seen as a payment instrument of the affluent, and indeed it can be difficult for ordinary Thais on average incomes to meet the criteria for holding a charge card. However, the affluence of the consumer base for charge…

All categories, bar card lending, will record worse performances in gross lending in 2020, albeit for a variety of reasons. Auto lending was already experiencing a negative performance in 2019, which was only exacerbated by the COVID-19 outbreak in the country. People have been shifting towards used cars, which is likely to be a greater source of demand going forward. Interest rates were expected to decline, but the virus has made this more challenging. Car dealerships are also offering…

American Express remain the only player in charge cards in Mexico. The company has been offering personalised assistance to customers in order to help them to create new payment plans, according to their payment capabilities, to help any of its customers experiencing financial issues due to the COVID-19 pandemic and its economic impact.

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Uzbekistan had been experiencing an upsurge in tourism prior to COVID-19, with initiatives such as easing of visa requirements contributing to the growth. In addition, Airbnb named Uzbekistan as one of their “best places to visit in 2019.” However, COVID-19 put an end to this and tourist numbers are expected to be decimated with negative financial implications for travel operators such as airlines, car rental, hotel and lodging stays, and online and offline bookings. Uzbekistan handled the…

The Coronavirus (COVID-19) pandemic has negatively impacted all areas of travel in Uruguay in 2020, most notably inbound and outbound tourism flows from key source markets Brazil and Argentina, highlighting the need for Uruguay to expand its focus to new source markets. Airlines, lodging establishments and car rental players have all seen revenues fall in 2020 as the pandemic has led to lower demand among both domestic and international business and leisure travellers. Online travel…

COVID-19 disrupted the recovery of travel in Tunisia following terrorist attacks in 2015 and several recent incidents, which negatively affected the inflow of tourists. It is still difficult to accurately gauge the extent of COVID-19’s impact on the number of arrivals to Tunisia, as returning nationals were stamped into the country in the same way as foreign tourists. COVID-19 containment measures brought international travel to a standstill, stopping tourists entering Tunisia between from…

From 25 March when lockdown measures began to be introduced, COVID-19 has severely damaged the travel industry in Saudi Arabia. Inbound and domestic tourism flows plummeted, with grounded flights from 15 March to 1 June leading to a sharp drop in international tourism. These restrictions have had a devastating impact on Saudi Arabia’s economy which is expected to continue to be felt in coming years. The hit to religious tourism will be particularly hard, with this being the bedrock of the…

The travel industry has been one of the most impacted industries due to the outbreak of COVID-19. Unlike physical products, what is not sold at the time is lost in the tourism sector. For example, an unattended night event is an event that will never be recovered. As Peru is a largely touristic country, the government has been facing a large challenge to protect this industry, not just in economic terms, but also for the local development. In response to the pandemic, the government has…

The initial impact of COVID-19 in Pakistan began at the start of 2020 as Pakistan International Airlines (PIA), cancelled all flights between Pakistan and China for most of January. By March government-enforced restrictions began as Pakistan’s borders were closed and flights were grounded. All hotels and retail outlets, including travel agencies and car rental facilities were closed, and consumers remained largely restricted to their homes except in cases of essential movement. These…

The COVID-19 pandemic has prompted the implementation of unprecedented measures in Oman, such as a ban on incoming and outgoing travel for residents. Oman has made a strong concerted effort over the review period to boost tourism and arrivals and departures have overall experienced an upward trend but there were dramatic year-on-year declines of 99% in April 2020. The country had focused on a five-year plan to increase tourism from Asia, especially India. However, India and China have become…

Euromonitor International's Industrial reports provide a 360 degree view of an industry. The Industrial market report offers a comprehensive guide to the size and shape of the Renting of Air Transport Equipment market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they new product developments,…

Euromonitor International's Industrial reports provide a 360 degree view of an industry. The Industrial market report offers a comprehensive guide to the size and shape of the Renting of Air Transport Equipment market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they new product developments,…

Euromonitor International's Industrial reports provide a 360 degree view of an industry. The Industrial market report offers a comprehensive guide to the size and shape of the Renting of Air Transport Equipment market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they new product developments,…

Euromonitor International's Industrial reports provide a 360 degree view of an industry. The Industrial market report offers a comprehensive guide to the size and shape of the Renting of Air Transport Equipment market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they new product developments,…

Euromonitor International's Industrial reports provide a 360 degree view of an industry. The Industrial market report offers a comprehensive guide to the size and shape of the Renting of Land Transport Equipment market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they new product developments,…

Euromonitor International's Industrial reports provide a 360 degree view of an industry. The Industrial market report offers a comprehensive guide to the size and shape of the Renting of Land Transport Equipment market at a national level. It provides the latest retail sales data, allowing you to identify the sectors driving growth. It identifies the leading companies, the leading brands and offers strategic analysis of key factors influencing the market - be they new product developments,…