Foreign Credit Card Spending in Korea Jumps 54% in H1, Led by Medical Tourism

[Economy 365]

Credit card spending by foreign visitors to South Korea surged by over 50% in the first half of this year compared to the same period last year.

According to an analysis of approximately 3.3 million foreign credit cards by BC Card, foreign card spending and the number of transactions increased by 53.6% and 40.3%, respectively, in the first half.

In particular, card spending by Chinese tourists soared by 82.7%, driving overall growth.

Consumer sectors also expanded beyond shopping to include medical services, experiences, and leisure.

The number of transactions grew by 75.3% in the medical sector and 121.7% in the experience and leisure sector.

Spending on medical tourism, in particular, saw a significant increase.

Medical sector spending jumped by 98%, with 92.8% of nationwide medical spending concentrated in Seoul.

Spending on dermatology and cosmetic procedures rose by 109.8%, traditional Korean medicine by 193.1%, and pharmacy spending surged more than 12-fold.

As foreign consumption spread to regional areas, the number of card transactions in Busan and Jeju increased by 57.9% and 63.7%, respectively.

* This article was produced with AI audio.
※ Please note: This article was translated by AI and may contain errors.