Use of credit cards by Bangladesh visitors in India has dipped while it is rose in Singapore and Thailand in recent months, Bangladesh Bank (BB) data reveals.
The fall of the credit card use has been occurred as India started issuing limited visa for Bangladesh citizens including patients and tourists.
In October this year, credit card spending by Bangladeshis in India declined by over 40 percent year-over-year, dropping from Tk 90.2 crore to Tk 53.8 crore, as per the latest BB data. India's share of total overseas credit card spending by Bangladeshis fell from 16.50 percent in October 2023 to 10.78 percent in the same month this year.
Meanwhile, credit card usage by Bangladeshis in Thailand and Singapore has increased.
Historically, India has been the top destination for Bangladeshi credit card spending abroad. From March 2023 to June 2024, India consistently held the top spot. However, in July this year, the United States surpassed India.
After the regime change in Bangladesh in August and the formation of the interim government, lowered issuing visa for Bangladesh people. However High Commission in Dhaka said issuing visa only for emergency cases.
Consequently, credit card usage by Bangladeshis in India has declined. Instead of India, Bangladeshis are now opting for Thailand, Malaysia and Singapore for medical and travel purposes.
