Foreign tourists visiting South Korea appear to be shifting their spending habits toward “value-for-money” purchases that reflect personal taste. The photo shows an Olive Young store at Incheon International Airport on Yeongjong Island. (Yonhap)
SEOUL, Dec. 17 (Korea Bizwire) — Foreign visitors to South Korea are increasingly favoring “value-for-money” shopping aligned with personal tastes, signaling a shift away from the high-end, big-ticket purchases that once dominated tourist consumption, according to new data released by the Korea Tourism Organization (KTO).
An analysis of foreign credit card transactions from 2018 through September 2024 found that shopping still accounts for the largest share of tourist spending at 51 percent.
But the nature of those purchases has changed: the average amount spent per transaction fell from 150,000 won in 2019 to 120,000 won this year, even as total per-person spending surged 83 percent. The increase was driven by a 124 percent jump in the number of purchases, suggesting that tourists are buying more items at lower prices.
KTO said the shift reflects a growing preference for mid-priced goods and lifestyle items with a distinct Korean aesthetic. Purchases at “gacha” toy capsule shops rose 142 percent in the first nine months of the year compared with a year earlier, while transactions at stationery stores and bookstores jumped 48.7 percent and 39.9 percent, respectively.
Iconic stationery brand Artbox recorded robust growth across transportation hubs and regional commercial districts.
Fashion purchases also climbed, rising 23.4 percent from a year earlier, driven by sharp increases in underwear, sportswear and accessories.
The street scene of Myeongdong, Seoul. (Yonhap)
K-beauty and wellness-related items remained among the strongest categories. Spending on beauty and health products grew at an annual average rate of 19.1 percent from 2018 to 2023 and expanded an additional 40.4 percent this year.
In cosmetics, retailer Olive Young posted triple-digit growth in emerging commercial neighborhoods such as Seongsu and around Gyeongbokgung. Pharmacy sales increased on the back of everyday wellness trends, while demand for traditional health foods like red ginseng and ginseng continued to rise.
“The move toward practical, lifestyle-driven consumption shows how Korean culture and K-content are increasingly shaping global tastes,” said Lee Mi-suk, head of the KTO’s tourism data strategy team.
Lina Jang (linajang@koreabizwire.com)
