SEOUL, Dec. 21 (Korea Bizwire) — Overseas credit card use in November, typically part of the travel off-season, jumped significantly this year, largely due to the quick recovery of interest in foreign travel, data showed Wednesday.
Overseas credit card spending at seven card companies reached 1.63 trillion won (US$1.26 billion) in last month, which was close to double overseas usage in August (871 billion won), part of the peak summer travel season, according to the the Credit Finance Association.
The overseas usage of personal credit cards from January to November reached 8.69 trillion won, up 37 percent from last year.
The increase is largely attributed to countries beginning to lift COVID-19 restrictions including the quarantine of foreign travelers.
The Korea Tourism Organization said 773,480 South Koreans traveled abroad in November, an increase of 521.8 percent on year.
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