American Express Cardmember spend on travel up 38% in first quarter

This reflects spend on airlines, hotels, car rentals, tours and other allied services booked with travel agents in the Middle East.

In the first quarter of 2008, the highest growth in Cardmember spend was generated in the travel sector of Egypt, up 103%; followed by Qatar with a 65% rise. Spend growth was 41% in UAE, and 37%in Kuwait.

"This remarkable growth in Cardmember spend translates into American Express driving the business growth of the Middle East travel sector," said Peter Fawn, Director of Establishment Services Group for American Express Middle East and North Africa.

"American Express Cards have always been recognised by our elite Cardmembership as a reliable travel partner. On average, our affluent Cardmembers spend three to four times more on our Cards than on others. In turn, this has delivered immense business growth to the travel sector and boosted opportunities for the tourism industry in this region."

He highlighted that Charge Cards are a chief driver of travel spend. From first-class airline tickets and booking of private jets and yachts, to hotel stays in the finest hotels around the world, travel continues to be a primary part of Cardmembers' lifestyle. He added: "In line with the travel needs of our Cardmembers, we provide exclusive privileges such as airport lounge access; the most comprehensive travel insurance in the industry; and emergency services and travel assistance in over 2,200 locations around the world. In 2006, we launched "Selects", an online programme for Cardmembers with hundreds of travel, shopping and dining offers in over 60 countries around the world."

Fawn continued: "Airlines and hotels are the main areas of spend for our Cardmembers. However, there is a wide range of allied industries - such as car rentals, leisure attractions, tours and travel management companies that contribute greatly to the growth of the tourism industry. American Express supports these businesses, by helping them attract high-spending customers such as our Cardmembers. In 2007, we created a dedicated team to cater to the needs of these allied businesses in the region."

Fawn added that American Express has a strong link with the premier travel exhibition of this region, the Arabian Travel Market (ATM). The company is once again the "Official Payment Card" of this year's event, where it will introduce an industry-first initiative for the benefit of the Middle East travel agencies. During the ATM, all American Express Cardmembers will have access to an exclusive VIP lounge at the venue and free entry to the event on the Consumers' Day, April 9, 2008.