Visa Estimates $109.1 Trillion in Global Commercial Spend in 2011

Visa has released its annual global Commercial Consumption Expenditure (CCE) index, which estimates that global commercial spending reached $109.1 trillion in 2011. This represents 12% growth from the $97.4 trillion spent in 2010 and marks the first time since Visa created the CCE in 2004 that this spending surpassed $100 trillion.

“Despite a slow, but sustained economic recovery, we continue to see healthy expansion in commercial spending,” said Tad Fordyce, head of global Commercial Solutions, Visa Inc. “Underneath this growth lies a clear opportunity for financial institutions to optimize their commercial card programs to capture more spend with electronic payments and ultimately better meet the needs of their commercial and government clients.”