Overseas Spending Hits Record High in Q3

Koreans' overseas spending topped US$6 billion from July to September, setting a new quarterly record.

The Bank of Korea said Monday that overseas spending reached $6.17 billion, up nearly five percent from the same quarter last year. Overseas spending includes money spent on overseas trips, tuition for studying abroad and online shopping.

Experts forecast that overseas consumption will remain high in the fourth quarter as the holiday season nears, leaving people with less disposable economy to divert to supporting the domestic economy.

Arirang News / Dec. 10, 2013 10:27 KST