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Travel fuels increased spending on UOB Malaysia credit cards in 2015

Recent data released by United Overseas Bank (Malaysia) Bhd (UOB Malaysia) revealed that Malaysians’ love for travel continues to grow, with more than half a billion ringgit spent on overseas travel in 2015. It also confirmed Malaysians’ preference for destinations within Southeast Asia and closer to home, such as Singapore and Thailand.

The data, mined from the spending patterns of all UOB Malaysia personal credit cardmembers[1], showed that Malaysians spent more than RM700 million on holidays in 2015. This is an increase of more than nine per cent over the same period in 2014 and is one of the highest percentage increases across all spend categories which include insurance premiums, retail, petrol and groceries. Singapore topped the list of travel destinations, followed by the United States, United Kingdom, Australia and Thailand. This is the second year in a row that Singapore and Thailand have appeared as two of the top five most popular travel destinations.

Mr Ronnie Lim, Head of Personal Financial Services, UOB Malaysia, said that Malaysia’s growing affluence and better connectivity across Southeast Asia are driving the penchant for travel among Malaysians.

“The growing affluence among the Malaysian middle class and increased connectivity through the rise in the number of regional low-cost airlines since the past few years[2] have made travel popular among Malaysians. It is not surprising that Singapore remains a top destination for Malaysians given how accessible it is and how similar the two cultures are. UOB Malaysia has responded to this demand for travel by introducing the UOB PRVI Miles card, offering regional privileges to our cardmembers,” said Mr Lim.

Launched in July 2015, the UOB PRVI Miles credit card offers a range of travel-related benefits for Malaysians, including one of the most competitive reward-point redemption programmes in Malaysia. For every ringgit spent overseas, cardmembers are rewarded with five UniRinggit points, which can be redeemed for air miles with more than 60 partner airlines.

Cardmembers also enjoy a wide range of discounts and promotions with online travel merchants such as Agoda and Expedia, as well as fashion, dining and hotel benefits at thousands of merchants across Malaysia, Indonesia, Singapore and Thailand.

More information about UOB Malaysia’s card privileges is available at www.uob.com.my.

– Ends –

About United Overseas Bank (Malaysia) Bhd

United Overseas Bank (Malaysia) Bhd (UOB Malaysia) is a subsidiary of Singapore-based United Overseas Bank Limited and has had a presence in Malaysia since 1951. UOB Malaysia offers an extensive range of commercial and personal financial services through its branches, subsidiaries and associate companies: commercial lending, investment banking, treasury services, trade services, cash management, home loans, credit cards, wealth management, and bancassurance products.

In line with the UOB Group’s regional corporate social responsibility initiatives focusing on children, education and the arts, UOB Malaysia has organised the annual UOB Heartbeat Run since 2008 to raise funds for charity. In 2011, UOB Malaysia established the inaugural Painting of the Year Competition and Exhibition.

For further information, please visit www.uob.com.my.

[1] Spend data during the period 1 January to 31 December 2015

[2] Centre of Asia Pacific Aviation Statistics in 2014




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