Staff Reporter :
Bangladeshis’ use of credit cards for cross-border transactions has seen a significant rise, with a notable shift in spending patterns in October.
According to a report by Bangladesh Bank, credit card transactions by Bangladeshis outside the country amounted to Tk499 crore in October, an 18.8 percent increase from Tk420 crore in September. This surge represents a Tk79 crore increase in spending abroad.
As of October, the United States continued to lead as the most preferred destination for credit card spending by Bangladeshis, but Thailand has overtaken India as the second-most popular country. Spending in Thailand rose from Tk42 crore in September to Tk57 crore in October, marking a notable shift. In contrast, spending in India experienced a decline, with Bangladeshis spending Tk53 crore in India in October, accounting for 10.78 percent of total transactions, placing it in third position.
Historically, India was the top destination for cross-border credit card spending by Bangladeshis.
However, a significant change in the visa policy and travel restrictions following the political upheaval in Bangladesh has led to a decline in travel to India.
