WEFA defines core international T&E payment card spending as air-travel purchases, auto rentals, and cruise and lodging made by individuals world wide.

Travellers (in 1997) used Visa cards to purchase more than $120 billion in core T&E products and services worldwide, representing over 38 per cent of total T&E purchases for payment cards and a 7 per cent edge over Visa closest competitor in the catergory, American Express.

"As a result of our data analysis and based on extensive research, it became evident that Visa's market share in T&E has grown significantly. We anticipate global core T&E sales to increase as we approach the nextmillennium and forecast that Visa will continue to grow in the T&E arena", WEFA Group's senior vice-president, Mark Lauritano.

"The WEFA study shows that the aggresive world wide marketing efforts by Visa and its member financial institutions and our broad acceptance are making Visa the clear choice of international travellers in the core T&E catergories", Visa Asia-Pacific's T&E director, Janet Tan, said and added "By developing strategic alliances with many of the leading global T&E companies, we have enabled our members to offer their cardholders exceptional value wherever their travels may take them".

Other key findings of the WEFA study are that Visa International is the preffered card in the world cruise sales catergory with a share of 46 per cent, world air traveller sales with a share of 39 per cent, and in world auto rental sales at 37 per cent. In these segments, American Express had shares of 25 per cent, 34 per cent and 35 per cent with MasterCard International following at 22 per cent, 18 percent and 19 per cent.

The WEFA study is based on an analysis of extensive T&E information retrived from government agencies and ministries, industry trade associations such as the International Air Transaport Association, World Transport Organisation, American Society of Travel Agents, United Nations and Organisation for Economic Co-operation and Development as also private sources.