Travelers wait in line in front of a check-in counter at Incheon International Airport, west of Seoul, in this June 22, 2023, file photo. (Yonhap)
SEOUL, Aug. 31 (Korea Bizwire) — South Koreans’ overseas card spending gained 1 percent in the second quarter of the year on the back of increased overseas travels amid eased COVID-19 curbs and increased direct purchases, central bank data showed Thursday.
The amount of money spent overseas by South Koreans with cards, including credit and debit cards, came to US$4.65 billion in the April-June period, compared with $4.6 billion three months earlier, according to the data from the Bank of Korea (BOK).
From a year earlier, their overseas spending jumped 26.9 percent.
The BOK said the overseas card spending grew as more people went abroad on the back of eased coronavirus restrictions and Koreans’ overseas purchases increased on the strengthening Korean won.
The number of outbound travelers stood at 4.95 million in the second quarter, slightly down from 4.97 million the previous quarter, industry data showed.
Overseas direct purchases via credit cards increased 3.8 percent on-quarter to $1.24 billion, according to the data.
South Koreans’ overseas card spending swelled almost 19 percent last year on the back of eased virus curbs to $14.54 billion, a sharp rise from $12.23 billion the previous year.
(Yonhap)
