Mastercard CEO Michael Miebach: Overall spending trends in the Middle East remain solid

Summary

Mastercard CEO Michael Miebach discusses the 20th anniversary of the company's IPO and provides an update on global consumer spending trends. He notes solid spending continuing into May, supported by low unemployment and wage growth, with consumers adjusting to inflation. Middle East transaction volumes saw some impact from geopolitical events but overall spending remains solid.

• Mastercard celebrates 20 years since its IPO.
• CEO Michael Miebach reports solid global consumer spending continuing into May.
• Low unemployment and rising wages are supporting spending despite inflation.
• Consumers are adjusting by balancing discretionary and non-discretionary purchases.
• Middle East travel-related spending saw some impact since February but otherwise solid.