See how consumers are spending

The Visa Spending Momentum Index gauges the health of consumer spending and overall participation by consumers in driving economic trends. Visa now offers the index in multiple countries and is continuing to expand into new markets, providing a more comprehensive view of global spending momentum.

Map showing how SMI can track growth by country.

Map of the world showing five spending momentum data ranges that are color-coded. The dark blue represents countries whose spending momentum is contracting, including Philippines, Malaysia, Japan, Georgia, Kenya, Lebanon, Morocco, Nigeria, Pakistan, Saudi Arabia, South Africa, Argentina, Panama, Bolivia, Cayman Islands, St. Kitts-Nevis, Jamaica, France, Greece, Israel, Slovakia. The lighter blue represents countries whose spending momentum is weakening, including Hong Kong, China, Singapore, India, Bahrain, Kuwait, Qatar, Republica Dominicana, Mexico, Paraguay, Trinidad and Tobago, Bahamas, Nicaragua, Uruguay, United States of America, Canada, Czech Republic, Finland, Hungary, Iceland, Poland. The very light blue represents countries whose spending momentum is in a steady state, including New Zealand, Thailand, Vietnam, Belarus, Oman, Republic Of Serbia, Brazil, Colombia, Peru, Puerto Rico, Guatemala, Costa Rica, El Salvador, Honduras, Barbados, Chile, Ecuador, Austria, Belgium, Bulgaria, Cyprus, Denmark, Estonia, Germany, Italy, Malta, Netherlands, Norway, Republic of Ireland, Romania, Sweden, Switzerland, United Kingdom. The yellow represents countries whose spending momentum is strengthening, including Australia, Kazakhstan, Egypt, United Arab Emirates, Lithuania, Portugal, Slovenia. The dark yellow represents countries whose spending momentum is expanding, including Indonesia, and Ukraine.

Latest release

Data files for the Spending Momentum Index are available on a monthly basis.

Download the latest North America SMI data

Download the latest global SMI data

How the Visa Spending Momentum Index is different

The Visa Spending Momentum Index analyzes depersonalized transaction data for millions of Visa credit and debit purchases, filling a gap in traditional indicators by tracking cyclical shifts in aggregate consumer spending and delivering a timely, customizable view of spending momentum and trends.

Client solutions

The SMI is a big data indicator of consumer demand that improves and enhances business planning. SMI closely tracks broader consumer spending trends at various geographical levels (city, county, state and region). Additional attributes include two product splits (debit and credit) and four merchant spending segments.

SMI use cases

Here's how businesses can use the SMI to gain powerful insights into global consumer spending trends.

SMI resources

SMI provides a valuable economic signal in machine learning models to anticipate key business and economic trends.

Dulguun Batbold, Senior Global Economist, Visa.

SMI as a guide to navigate business through economic cycles

In this video, senior global economist Dulguun Batbold showcases one way that the SMI is used to help businesses anticipate key trends, such as economic cycles.

Driving business growth with confidence during a recession

Consumer spend insights can help mitigate risk during economic downturns and identify opportunities earlier in a recovery.

Read the SMI article


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