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Sales of Local Duty-Free Shops Recover Thanks to Increased Spending by Foreigners

Written: 2016-07-29 10:29:03Updated: 2016-07-29 10:31:08

Sales of Local Duty-Free Shops Recover Thanks to Increased Spending by Foreigners

The business of local duty-free shops is recovering fast from last year’s slump as foreigners are increasing their spending.

According to the Korea Duty-Free Association(KDFA) on Friday, the average spending per customer at local duty-free shops was 207 dollars in the first half of the year, up 7 dollars from the same period last year.

Foreigners spent an average of 345 dollars and South Koreans spent 123 dollars in the January-June period, up by eight dollars and 12 dollars, respectively, from last year.

The sales at local tax-free shops dwindled last year due in part to the breakout of the Middle East Respiratory Syndrome(MERS) and less Chinese customers.

However, according to the association, the sales at local duty-free shops jumped 84-point-three percent from 471-point-89 million dollars in June last year to 869-point-68 million dollars last month.

During the same time span, the spending by foreigners at local duty-free shops more than doubled from 260-point-92 million dollars to 624-point-57 million dollars. 

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