According to recently released data by Visa International, spending with Visa cards has exceed pre-tsunami levels in some areas his by the 2004 tsunami.
Visa spending for the first half of 2007 was up on the same period in 2006 for Bali and Phuket by 27% and 21% respectively.
Despite the recovery shown in Bali and Phuket, not all areas in the Asia Pacific region saw strong growth. Of particular interest is Sri Lanka and the southern provinces of Thailand where spending is lower than for the same period in 2006.
The political and civil unrest is to explain for southern Thailand´s decline in spending, while Sri Lanka´s return to civil war in 2006 has seen a decline in spending.
Neighbouring Maldives, another victim of the tsunami, however has shown growth in visa spending, indicating the country archipelago is recovering also.
The increased spending in Bali and Phuket is reflected in the islands´ buoyant property markets. Despite uncertainties in Thailand´s post-coup era, the signs are there for an end-of-year democratic election and industry experts see the real estate industry is now turning the corner.
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