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South Korean tourism and foreign spending growth

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2026-08-11 05:23 UTC → 2026-08-12 01:14 UTC · added removed

South Korea’s tourism sector has experienced significant growth, with foreign visitor arrivals exceeding 10.71 million in the first half of 2024, representing a 23.1% increase compared to the previous year. Key markets include China, Japan, and Taiwan, though arrivals from North America, Europe, and Southeast Asia have also risen, diversifying the visitor base. This influx of travelers has driven a substantial surge in economic activity. Foreign According to Korea Credit Data (KCD), foreign credit card spending has increased surged nearly tenfold compared to January 2023 levels. While Seoul remains the primary hub for these transactions, there has been a notable increase in travel In June, overseas card revenue reached an index of 960, compared to regional airports and areas outside 100 at the capital region. start of 2023. Spending patterns highlight a strong interest in specific sectors, particularly medical and cosmetic services, sectors. In Seoul, which dominate accounts for 65% of overseas card revenue, the service industry transactions. Retail spending sector is led dominated by fashion medical aesthetics; dermatology clinics make up 40% of service sales and apparel, while food services see significant activity plastic surgery clinics 14%. Foreigners in Korean restaurants. Overall, the service sector spend an average of 166,000 won per transaction, significantly higher than the 47,000 won spent by domestic users. Regional trends show rapid growth in Busan, which saw a 60% year-on-year increase in overseas card sales, outpacing Seoul and Jeju. Unlike Seoul, spending in Busan is attributed driven by food and retail. Additionally, convenience store chains like CU and GS25 have reported significant revenue increases. In coastal areas such as Gwangalli and Gangneung, convenience store sales to the appeal of K-culture alongside government foreigners have seen triple-digit growth, with high demand for K-food, sunscreens, and industry efforts. seasonal items.

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  1. 2026-08-12 01:14 UTC South Korean tourism and foreign spending growth
  2. 2026-08-11 05:23 UTC South Korean tourism and foreign spending growth

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