Overseas Spending by Korean Tourists Hits 12-Year High

Total overseas spending by Korean tourists hit a 12-year high in 2018 as the number of travelers vacationing overseas increased.

The Bank of Korea said Wednesday that Korean tourists spent some US$31 billion last year, the most since 2006. But spending per person fell slightly.

The BOK attributed this to a shift in travel culture. Koreans now tend to fly more frequently to closer destinations such as Japan and Southeast Asia, rather than traveling all the way to Europe or the U.S.