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S. Korea Posts Record Tourism Deficit in 2017

Written: 2018-02-21 08:17:36Updated: 2018-02-21 09:21:02

S. Korea Posts Record Tourism Deficit in 2017

South Korea posted a record deficit in its tourism account last year due to China’s retaliation against the deployment of the THAAD antimissile system and a sharp increase in the number of South Koreans traveling abroad.

According to the Korea Tourism Organization on Wednesday, tourism revenue spent by foreigners in South Korea marked 13-point-three billion dollars last year, down 22-point-five percent from a year earlier. 

South Koreans spent over 27 billion dollars abroad last year, up 14-point-three percent on-year. 

The resulting tourism deficit is tallied at 13-point-seven billion dollars, more than doubling from a year earlier.

The nation posted a tourism deficit for the 17th consecutive year since 2001.

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