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S. Koreans' Overseas Spending Grows Sharply

Written: 2017-02-21 08:40:02Updated: 2017-02-21 11:07:22

S. Koreans' Overseas Spending Grows Sharply

South Koreans' credit card spending has increased sharply overseas. 

According to the Bank of Korea on Tuesday, South Koreans swiped overseas last year for goods or services totaling a record high, 14-point-three billion dollars.
 
It is seven-point-eight percent more than the amount of money they spent abroad with credit cards in 2015.
 
Compared with five years earlier, South Koreans’ overseas spending on credit has jumped 65-point-nine percent from eight-billion-619-million dollars.
 
The increase in overseas spending is partly attributed to the growing number of South Koreans traveling abroad.
 
According to the Korea Tourism Organization(KTO), 22-point-38 million South Koreans left the country last year, up 15-point-nine percent from a year earlier. 

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