NABE Silicon Valley RoundTable

NABE Silicon Valley RoundTable

Consumer Spending: Global forces at work and their impact in the U.S.

Speaker(s):  Tom Hester, Visa Business and Economic Insights
Summary:  Understanding consumer spending is key to understating economic growth since it accounts for almost 60% of global GDP. There are five factors that will impact consumer spending around the world � housing, debt, confidence, the emerging middle class and the evolution of electronic payments. Visa economist Tom Hester will analyze each factor, and their impact on spending in the U.S. will be discussed.


The world has recovered from the deepest recession in almost a century. What is the state of the consumers� financial health and how will that affect spending � especially on payment cards? To answer that question, Tom will review economic developments around the world with a special emphasis on the U.S. and Canada, where consumer transactions can be monitored over VisaNet to evaluate up-to-the-minute changes in consumer behavior.


Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to one of the world's most advanced processing networks--VisaNet--that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. With over 2 billion cards in force that are used for over US$7 trillion in financial transactions, Visa is the world�s largest consumer electronic payment network.


As an international economist in Visa�s Business and Economic Insights Group, Tom provides economic analyses and forecasting services for Visa executive management and country managers. He has also assessed global economic opportunities for Visa, creating product and organizational strategies for the CEO and Board of Directors. And he developed the initial global business case for chip cards, providing insights into the financial benefits of the new technologies.


Tom came to Visa from commercial banking, where he specialized in operational and strategic planning. He also developed and managed a multi-million dollar bank stock portfolio for the parent bank holding company.  Tom received a B.S. in Industrial and Systems Engineering from Georgia Tech and graduated from the Stonier Graduate School of Banking, Rutgers University with a thesis on �Management Engineering in Banks.�

Date:  December 11, 2011
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