Credit card spending trends in Bangladesh showed a notable shift in February, with a decline in both domestic and overseas transactions by Bangladeshi cardholders, while spending by foreign cardholders in the country rose, according to the latest data from Bangladesh Bank.

Domestic spending falls

Total domestic credit card transactions by Bangladeshi users fell by over 5% in February, amounting to Tk 297 crore–down from Tk 313 crore in January.

Overseas spending sees steep drop

Spending abroad using Bangladeshi credit cards saw a more significant drop. In February, such transactions totaled Tk 384 crore, down from Tk 446 crore the previous month–a decline of around 16%, or Tk 62 crore.

Foreign cardholders boost local spending

In contrast, spending by foreign credit cardholders in Bangladesh rose during the same period. In January, foreign nationals spent Tk 253 crore within the country; by February, that figure increased to Tk 268 crore–a monthly rise of Tk 15 crore or nearly 6%.

Shifting patterns post-political change

The Bangladesh Bank report also notes a shift in usage patterns following recent political changes. The United States has now overtaken India as the top destination for overseas spending by Bangladeshi cardholders. In February alone, Bangladeshi users spent Tk 52 crore in the US.

India, which previously topped the list, saw a decline in Bangladeshi card spending–dropping from Tk 33 crore in January to Tk 29 crore in February. Thailand, another popular destination, also experienced a significant fall, from Tk 64 crore in January to Tk 47 crore in February. Spending in Singapore remained relatively steady, with Tk 39 crore spent in February compared to Tk 38 crore in January.

The continued fluctuation in credit card spending–both domestically and internationally–reflects evolving consumer behavior and economic shifts in the post-election landscape.