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Visa Data Reveals Travel Spending Boost During Annual Signature Race Week

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During the week of the Night Race, Singapore saw over 20% surge in international visitors,[1] driving close to 30% spending upliftHigh-net-worth visitors[2] surged by over 70%, contributing to approximately 70% increase in their overall spendingVisa cardholders from Hong Kong SAR, Japan, Malaysia, Australia, U.K., U.S. accounted for over 40% of tourism spendSMBs in Singapore saw a spending increase of over 50% by tourists [3]

SINGAPORE, Oct. 3, 2024 /PRNewswire/ — As Singapore’s premier international night racing event concludes, Visa, the world leader in digital payments, today unveiled data[4] demonstrating consumer behaviours and spending patterns during the week-long September spectacle.

The data, based on Visa’s analysis of the spending patterns of Visa cardholders during the this period, revealed over 20% increase in international visitors, driving close to a 30% uplift in overall spending.[5] Such benefits extended to local spending as well, resulting in a 10% uplift during the same period.[6]

High-Octane Night Race Demonstrates International Appeal
Top spending and international visitor trends identified in relation to Visa cardholders include:

A substantial influx of visitors from the region and beyond: Hong Kong SAR led the way with more than 200% increase in traveller spending. Australia and U.K. also saw a significant uplift in spending (approximately 80%), while U.S. (over 40%), Japan (over 40%) and Malaysia (60%) also saw substantial growth. Together, these markets accounted for over 40% of tourism spend during the race week.Spending preferences by country: Top spending by visitors from Hong Kong SAR were on Entertainment (over 40% of spend) and Restaurants (over 15%). Visitors from U.S., U.K., Australia and Japan spent mainly on Restaurants (over 20%) and Lodging (over 20%). Malaysian visitors spent on Entertainment (over 25%), Retail goods (approximately 15%), and Restaurants (over 10%).Biggest spending increase in F&B and Lodging: The top merchant categories were Entertainment with an uplift of nearly 100%, followed by Quick Service Restaurants (approximately 70%), Restaurants (approximately 60%), Lodging (over 45%), and Food & Grocery (over 30%).Notable increase in high-net-worth visitors and spend: The Night Race week saw over 70% surge in high-net-worth visitors, contributing to approximately 70% increase in overall spending from this segment.Small and medium businesses benefit from tourism boost: The local small and medium business sector in Singapore experienced an approximate 10% spending uplift. This translates to a spending increase of over 50% by tourists.Boost in spending beyond core event area: Surrounding areas like Kallang experienced over 170% uplift in spending, followed by Outram (over 120%), Rochor (close to 80%) and Downtown Core (over 90%).

Decoding Visitor Behaviours: Capturing the Impact of Event-Driven Tourism
To assess the overall impact of major international events on the local business landscape, Visa takes a closer look at visitor behaviours, spending patterns and payment preferences by Visa cardholders during the Night Race week:

Tracking the payments journey: For Lodging, hotels near the event location experienced 70-100% increase in spending, underscoring the premium visitors place on convenience and proximity to the action. In the Restaurants sector, bars and lounges experienced a 130% increase while restaurant chains specialising in Asian cuisine and Singaporean seafood saw an approximately 30-40% increase. In the Entertainment category, bay-facing recreational services saw over 150% uplift, while tourism attractions across the city-state saw more than 90% increase in spending.Singapore after dark – nightlife surges from midnight to dawn: Singapore’s late-night activities[7] experienced a significant boost, particularly in dining and entertainment. Visitors increased their spending by approximately 130% across common nightlife spots such as Chinatown, Bayfront Subzone, City Hall and Clarke Quay between 12 a.m. to 6 a.m. Of which, late-night dining saw a surge of approximately 170% in spending, while entertainment venues enjoyed an uplift of over 130% during these hours.Contactless payments gain foothold: Visitors from Taiwan (over 35%), Japan (over 30%) and South Korea (close to 30%) showed a notable increase in their contactless payment usage[8] while in Singapore. This highlights the growing global adoption of contactless technology, facilitated by Singapore’s advanced digital payments infrastructure.

Unlocking New Opportunities in Travel with Data Insights
Prateek Sanghi, Head of Visa Consulting and Analytics, Asia Pacific, said: “Our findings underscore Singapore’s enduring appeal as a premier destination for major international events, as demonstrated by the marked increase in visitors and spending across various sectors during the Night Race week. Visa’s data unlocks more than just current trends, providing valuable insights into tourist behaviour and spending patterns, which can empower businesses of all sizes to not only maximise opportunities during event-driven travel periods but also predict future behaviours.”

Visa’s payments data, consulting services and in-house data science capabilities enable organisations with key insights to help them enhance visitor experiences, optimise business strategies, and drive economic growth across the travel and commerce ecosystem.

[1] Identified by non-resident cardholders making in-person transactions within Singapore.

[2] Identified as Visa Infinite and Visa Signature cardholders for all countries except Japan (Visa Gold and Visa Platinum in Japan).

[3] Figures compare the period from September 14 to 22, 2024, with the weekly average of the preceding 12 months.

[4] Based on anonymised aggregated transaction data from September 14 to 22, 2024.

[5] Figures compare the period from September 14 to 22, 2024, with the weekly average of the preceding 12 months.

[6] Figures compare the period from September 14 to 22, 2024, with the weekly average of the preceding 3 months.

[7] Figures compare the period from September 14 to 22, 2024, between 12 a.m. to 6 a.m. daily with the weekly average of the preceding 12 months.

[8] Figures compare the period of September 14 to 20, 2024, of contactless transactions with the weekly average of the preceding 12 months. Contactless payment usage is defined by the percentage of total face-to-face transactions made using contactless technology.

 

About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.

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SOURCE Visa Worldwide Pte Ltd

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Spoke Custom Expands Headquarters to Accelerate Growth and Enhance Print-On-Demand Fulfillment Capabilities

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October 3, 2024

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New Norcross Facility to Double Production Capacity, Supporting Long-Term Growth and Innovation

NORCROSS, Ga., Oct. 3, 2024 /PRNewswire/ — Spoke Custom , a leading provider of print-on-demand hard goods decoration and a subsidiary of Polyconcept North America (PCNA), today announced the relocation and expansion of its headquarters to a new, state-of-the-art facility at 4350 Peachtree Industrial Blvd in Norcross. This new 107,000-square-foot facility more than doubles the company’s production capacity, positioning Spoke Custom to better meet the growing demands of its customers while enhancing operational efficiency.

The expansion comes on the heels of five consecutive months of double-digit growth and reflects Spoke Custom’s commitment to leading innovation within the print-on-demand industry. The expanded Norcross facility is climate controlled to facilitate best in class printing operations. New equipment, material flow and automation enable significantly increased peak season capacities and decoration method growth. The larger facility will support additional product inventory, expanded decorating capacity, and increased demand from its Givee Select platform . PCNA launched Givee Select in January 2024 , providing distributors with an all-in-one simple solution for creating online storefronts featuring curated, personalized on-demand products fulfilled through Spoke Custom.

“We are thrilled to announce the expansion of Spoke’s national headquarters in Norcross, which marks a significant milestone in our growth journey,” said Neil Ringel, CEO of PCNA. “The move into this state-of-the-art facility enables us to scale operations, enhance efficiency, and continue delivering the high-quality, personalized products that Spoke is known for.”

In addition to enhancing production capabilities, the new headquarters will support Spoke Custom’s long-term growth with expanded warehousing capacities to accommodate product inventory expansion. Currently, Spoke Custom offers over 120 distinct hard goods across 10+ exclusive retail brands, utilizing a range of printing technologies, including sublimation, laser and digital printing. This allows for highly customized and full-color decorated products, available with no minimum order quantities and order shipments within 72 hours or less.

This move also allows Spoke Custom to significantly scale its workforce to meet increasing demand. Currently, PCNA employs 28 full-time Spoke Custom team members in Georgia, alongside additional outsourced staff, and operates facilities in Pennsylvania, Kentucky, and Arizona.

“This expansion reflects our commitment to innovation and growth in the print-on-demand industry,” said Doug Mitchell, Chief Growth Officer at PCNA. “We are devoted to empowering our customers to meet the increasing and diverse demands of the market.”

For media inquiries, please contact: Heather Poulsen, hpoulsen@pcna.com

About PCNA

PCNA is a wholly owned subsidiary of Polyconcept, the world’s leading promotional products supplier. With headquarters near Pittsburgh, Pa., PCNA operates Trimark, Leed’s, Bullet, JournalBooks, ETS Express and Spoke Custom, offering customers the industry’s biggest and most diverse collection of products. To learn more, go to www.pcna.com.

About Spoke Custom

Founded in 2013 following a management buyout of Case-Mate’s custom products division, Spoke Custom was acquired by PCNA in 2022. The company offers comprehensive end-to-end print-on-demand solutions, serving enterprise marketplaces and aggregators with a diverse product catalog, state-of-the-art print-on-demand technology and fast fulfillment services. Spoke operates facilities in Georgia, Arizona, Pennsylvania and Kentucky. Visit www.spokecustom.com for more information.

View original content to download multimedia:https://www.prnewswire.com/news-releases/spoke-custom-expands-headquarters-to-accelerate-growth-and-enhance-print-on-demand-fulfillment-capabilities-302266248.html

SOURCE Polyconcept North America (PCNA)

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Open Mainframe Project Announces Zowe’s Long Term Support V3 Release Designed for Mission-Critical Applications and Data Processing, Ensuring the Future of the Mainframe

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October 3, 2024

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Zowe increases product durability, stability and security with the support of a large open source community and a Conformance Program

SAN FRANCISCO, Oct. 3, 2024 /PRNewswire/ — The Open Mainframe Project, an open source initiative that enables collaboration across the mainframe community to develop shared tool sets and resources, announced the launch of Zowe‘s Long Term Support (LTS) V3 Release. Zowe, an open source software framework for the mainframe that strengthens integration with modern enterprise processes & tools, offers vendors and customers the ability to execute on modernization initiatives with stability, security, interoperability as well as easy installation and a continuous delivery model for receiving upgraded features.

According to the Arcati Mainframe Yearbook 2024, the independent annual guide for users of mainframe systems, 85% of mainframe organizations will be adopting Zowe by the end of the year or have already adopted it into their modern enterprise solutions. 

“The continued success of Zowe as a community-driven project highlights the importance of the mainframe as an open platform supporting hybrid cloud architectures,” said George Decandio, chief technology officer, Mainframe Software Division, Broadcom. “The latest V3 release introduces new components that expand capabilities to client SDKs and additional IDEs, reflecting Zowe’s ongoing evolution to meet the needs of the mainframe ecosystem. Notably, this update enhances the Zowe API Mediation Layer, a key component our customers view as essential in transforming the role of the mainframe in their multi-platform environments.”

“Zowe’s progress underscores a broader commitment to open, interoperable standards, enabling organizations to maximize the value of their mainframe and IT infrastructure investments,” said Decandio. “Broadcom is proud to be a leading contributor to this community and is committed to supporting the project’s continued growth.”

Zowe, the integrated and extensible open source framework for z/OS, comes with a core set of applications out of the box in combination with the APIs and OS capabilities future applications will depend on. It offers modern interfaces to interact with z/OS and allows you to work with z/OS in a way that is similar to what you experience on cloud platforms today. Developers can use these interfaces as delivered or through plug-ins and extensions that are created by clients or third-party vendors. For example, Zowe V3 offers new support for the IntelliJ Zowe Explorer plugin as well as the simplified install wizard.

Some of the benefits of the LTS V3 include:

Durability: A refreshed number of core components that make up the software stack to give a secure stable shelf life, which ensures years of use with continued updates and support.Stability: The installation and configuration have been stabilized through V3. Organizations can confidently adopt the technology for enterprise use and upgrade when appropriate for their environment, minimizing the risk of disruption.Enhanced Security: An enhanced security posture by actively monitoring dependencies and upgrading them proactively. This helps mitigate risks associated with outdated or vulnerable dependencies, offering more robust security features compared to earlier versions.

“Zowe V3 is the culmination of five years of work by volunteers from around the world,” said Bruce Armstrong, IBM Z Principal Product Manager at IBM and member of the Zowe Advisory Council (ZAC). “I am particularly proud of the fact that Zowe has revolutionized access to z/OS-based services for thousands of next-generation developers and system programmers that will continue the platform’s success for decades to come.”

“Rocket Software is a proud founding contributor of Zowe,” said Tim Willging, Fellow and VP of Software Engineering at Rocket Software. “It’s been incredible to see the success and passion of the open source community in supporting hybrid cloud initiatives. The expanded capabilities in the V3 release will help accelerate an organization’s modernization journey and provide them with enhanced security, maintainability, and scalability needed to match their customers’ needs—now and in the future.”

Community Leadership
Zowe is a contributor-led community with participating vendors such as, but are not limited to, Broadcom, IBM, Phoenix Software, Rocket Software, and Vicom Infinity. As a result of their extensive collaboration, the following Zowe extensions have been transformed in Zowe V3:

Explorer for IntelliJ provides the developers within the IntelliJ IDEs with the capability to work with the z/OS platform.Kotlin and Java SDKs are Generally Available Extensions simplifying interaction with z/OS from the Java and Kotlin applications.The IMS service and the current CLI extensions are archived. IBM is working on replacements.

The Zowe Conformance Program is Updated with LTS V3 Guidelines
Aimed to build a vendor-neutral ecosystem around Zowe, Open Mainframe Project’s Zowe Conformance Program launched in 2019.  The program has helped Open Mainframe Project members incorporate Zowe with new and existing products that enable integration of mainframe applications and data across the enterprise.

To date, 77 products have implemented extensions based on the Zowe framework and earned these members conformance badges.

Zowe will also be featured in several sessions at Community Day at IBM’s TechXchange on Monday, October 21. Check out Open Mainframe Project’s complete schedule here.

Additional Resources:

Zowe GitHub RepositoryZowe Community WebsiteGetting Started documentation siteOpen Mainframe Project’s I am a Mainframer Podcast

About the Open Mainframe Project
The Open Mainframe Project is intended to serve as a focal point for deployment and use of Linux and Open Source in a mainframe computing environment. With a vision of Open Source on the Mainframe as the standard for enterprise class systems and applications, the project’s mission is to Build community and adoption of Open Source on the mainframe by eliminating barriers to Open Source adoption on the mainframe, demonstrating value of the mainframe on technical and business levels, and strengthening collaboration points and resources for the community to thrive. Learn more about the project at https://www.openmainframeproject.org.

About The Linux Foundation
The Linux Foundation is the world’s leading home for collaboration on open source software, hardware, standards, and data. Linux Foundation projects are critical to the world’s infrastructure including Linux, Kubernetes, Node.js, ONAP, OpenChain, OpenSSF, PyTorch, RISC-V, SPDX, Zephyr, and more. The Linux Foundation focuses on leveraging best practices and addressing the needs of contributors, users, and solution providers to create sustainable models for open collaboration. For more information, please visit us at linuxfoundation.org.

The Linux Foundation has registered trademarks and uses trademarks. For a list of trademarks of The Linux Foundation, please see its trademark usage page: www.linuxfoundation.org/trademark-usage. Linux is a registered trademark of Linus Torvalds.

Media Contact:
Maemalynn Meanor
Maemalynn@linuxfoundation.org 

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SOURCE Open Mainframe Project

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/R E P E A T — MEDIA ADVISORY – AdapT–Research Institute on Resilient and Circular Infrastructure, in collaboration with Union des municipalités du Québec, is organizing a day of discussions and workshops on municipal infrastructure resilience, as a first step towards concrete action in this area/

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October 3, 2024

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MONTREAL, Oct. 1, 2024 /CNW/ – Our society’s infrastructure, the true pillars of our communities, is being severely tested by climate change, whether through extreme weather events, rising water levels, permafrost thawing, or the increasing frequency of heat waves. To build a resilient future, the AdapT Institute of the École de technologie supérieure (ÉTS) and Union des municipalités du Québec (UMQ) invite you to a day of discussions and workshops to collectively envision innovative and sustainable solutions to this societal challenge.

WHAT:

 A day of discussions and workshops on infrastructure resilience in the face of climate change. This event is a call to action, aiming to identify the most promising research avenues, mobilize stakeholders (researchers, elected officials, industry leaders, etc.), and foster collaborations.

The discussions will focus on three main areas:

Identifying the challenges municipalities face in adapting their infrastructurePresenting existing solutions, ongoing initiatives, and research advancementsIncubating new collaborative research projects among various partners.

 

WHEN:

Thursday, October 3, from 8:00 AM to 4:30 PM ET
For the detailed schedule: Municipalities in Action Event—ÉTS Montreal

WHERE:

École de technologie supérieure
1220 Notre-Dame Street West
Salon des diplômés (E-2023)

WHO:  

Luc Sirois, Chief Innovation Officer (Québec)
Martin Damphousse, President of Union des municipalités du Québec (UMQ)
Éric Bosco, Executive Director of AdapT
Catherine Fournier, Mayor of Longueuil
Mathieu Lapointe, Mayor of Carleton-sur-Mer
Nathalie Pelletier, Mayor of Magog
Isabelle Perreault, Mayor of Saint-Alphonse-Rodriguez
Marie-Andrée Mauger, Mayor of Verdun Borough and Member of the
Executive Committee and Responsible for Ecological Transition and
Environment, City of Montreal

 

Ageing infrastructure, ever-increasing maintenance costs and increasingly frequent extreme weather events all highlight the urgent need for action. To meet these challenges, the Union des municipalités du Québec (UMQ) and the AdapT Institute have decided to pool their expertise, mobilize knowledge and implement concrete solutions to make municipal infrastructures more resilient. This partnership is essential to extend our reach and amplify our impact.

Please note that most of the discussions will take place primarily in French.

SOURCE École de Technologie Supérieure

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