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Consumer Spending Outlook for Travel Hits 15-Year High

Written: 2017-06-28 16:47:22Updated: 2017-06-28 18:15:34

Consumer Spending Outlook for Travel Hits 15-Year High

The nation's consumer spending outlook for travel hit a 15-year high, with the outlooks for cultural activities and durable goods sharply improving.
 
According to the Bank of Korea on Wednesday, the index measuring consumer prospects for spending in travel posted 98 this month, up nine points from the end of last year.
 
It’s the highest since July 2008, when the country started releasing monthly figures. The nation had previously compiled quarterly figures. The June figure marks the largest since the third quarter in 2002 when also compared to quarterly figures.
 
A reading above 100 means people who plan to increase their spending in travel outnumber those who plan to reduce spending.
 
Since 2000, the index topped the 100 benchmark only in the first and second quarter of 2002 when the nation hosted the World Cup.

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