SEOUL, June 17 — Monthly spending by foreign tourists in South Korea exceeded 2 trillion won (US$1.32 billion) for the first time in May, data showed Wednesday, Yonhap News Agency reported.
Credit card spending by inbound travellers reached 2.12 trillion won in May, up 67.1 per cent from a year earlier, according to the data from the Korea Tourism Organisation (KTO). The increase marks the fastest growth rate since 2023.
Spending by Chinese tourists more than tripled, compared with the same month last year, the data showed.
By sector, shopping recorded the largest on-year increase at 77.8 per cent, followed by transportation at 70.6 per cent, medical and wellness services at 65.8 per cent, and food and beverage at 64.9 per cent.
The KTO said consumption patterns were becoming increasingly polarised into “lifestyle” spending centred around those in their 20s and 30s and shopping for “ultra-luxury” brands led by Chinese tourists.
In Seoul’s Myeongdong shopping district, spending jumped 162 per cent year-on-year, supported by the popularity of customised apparel services, such as Nike By You. In Seongsu-dong, spending rose 141.9 per cent as foreign visitors flocked to well-known outdoor brands. Pharmacy sales also surged in Seongsu-dong and the southern port city of Busan’s Haeundae district, boosted by demand for regenerative creams and other products.
“The data shows that foreign tourist consumption is becoming more segmented across commercial areas, business sectors and nationalities,” said Lee Mi-sook, head of the KTO’s Tourism Data Hub Team. “We will provide data-driven insights to help local governments and businesses catch these shifts early and respond proactively.”
