New data shows that inflation could disrupt the travel spending rush
A new report from Mastercard Inc indicated that “runaway inflation” was hurting low-income customers’ spending habits, including travel purchases. According to Reuters.com, the study found that cardholders are shifting their priorities from big-ticket items to essentials and groceries, but travel still remains a priority and helped the credit card company complete a strong quarter. . Mastercard has recorded its strongest summer travel season since the start of the pandemic, thanks to pent-up demand and the easing of coronavirus-related restrictions. International volumes also increased 58% in local currency in the second quarter, increasing dollar volumes on the company’s network by 14%Read News