Spending abroad using Bangladeshi credit cards declined by about 16 per cent in February, while expenditure by foreign credit cardholders in Bangladesh saw an increase, according to the latest report from Bangladesh Bank.
The report shows that spending through Bangladeshi credit cards dropped by 5 per cent compared to January.
In contrast, foreigners visiting or residing in Bangladesh increased their credit card spending by 16 percent during the same period.
In February, Tk聽297 crore was spent within Bangladesh using credit cards, down from Tk313 crore in January. This represents a decrease of Tk 16 crore, or just over 5 percent, in domestic credit card spending.
Spending abroad by Bangladeshi credit card users totalled Tk 384 crore in February, compared to Tk 446 crore in January. This marks a decline of Tk 62 crore, or around 16 percent.
Meanwhile, credit card spending by foreigners in Bangladesh rose in February. Foreign nationals spent Tk聽253 crore in January, which increased to Tk聽268 crore in February鈥攁n uptick of Tk聽15 crore in just one month.
Following recent political changes in Bangladesh, credit card usage patterns have also shifted.
The highest foreign spending by Bangladeshi cardholders was recorded in the United States. Likewise, US cardholders spent the most among foreigners in Bangladesh.
In February, Bangladeshis spent Tk 52 crore on credit cards in the United States鈥攖he highest for that month. This suggests that US cardholders have increased spending both in Bangladesh and abroad.
Previously, India was the top destination for Bangladeshi credit card spending.
In February, Tk 29 crore was spent there, down from Tk33 crore in January. Thailand followed as the second-highest destination, with Tk47 crore spent in February鈥攄own from Tk 64 crore the previous month. In Singapore, Tk 39 crore was spent in February, slightly up from Tk 38 crore in January.
