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Chilean purchases of foreign bank cards (debit and credit) decreased by 19.4% in real terms in the second quarter of 2018 compared with the same period of the previous year, according to a report from the Department of Studies of the National Chamber of Commerce (CNC), based on Transbank figures
Thus, sales to foreigners with a card accumulate a real annual decrease of 16.3% in the first half of this year. According to the CNC, the sharp decline in sales to foreigners confirms the downward trend seen since 2017 and has increased this year 2018, already accumulating two quarters of declines.
The decline is explained by the slowdown in the entry of tourists down 8.4% between January and May of this year compared to the same period of 2017. Among them, the main cause has was the decline in Argentinian incomes in the country, which had boosted sales in 2015, 2016 and early 2017, which would reveal the end of the booming purchases of the neighboring country.
"Probably his representativeness continues to decline considering the scenario facing the neighboring country, with a sharp depreciation of its currency, which strongly encourages the travel of its citizens abroad," said Bernardita Silva, director of studies at the CNC.
Indeed, between January and May 2018, the entry of the Argentines fell by 19.2% per year, equiva- alloy 347.182 less than in the same period of 2017, which has impacted on purchases since the second quarter of this year, spending with card (credit and debit) trans-Andean in our country fell by 52.4%, marking three
excluding Argentines, card spending by other foreigners decreased by 1.4%, which also implied a decline in the representation of the trans-Andean countries, which accounted for 47.9% of total purchases of foreigners with cards in the second quarter 2017, to represent 20.9% a the same quarter of the year 19659007]! Function (f, b, e, v, n, t, s)
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