Foreign Tourist Spending in Korea Hits Record High of 2.1 Trillion Won in May, Up 67% Year-on-Year

The amount spent by foreign tourists visiting Korea last month exceeded 2 trillion won for the first time in history, according to data released today (June 17).

The Korea Tourism Organization analyzed big data on foreign credit card spending from its 'Korea Tourism Data Lab' and found that foreign tourist card spending in Korea reached 2.1222 trillion won in May.

This figure represents a 67.1% increase compared to the same month last year, marking the highest growth rate since 2023.

In particular, spending by Chinese tourists more than tripled compared to the same month last year.

By sector, growth was most prominent in shopping (77.8%), transportation (70.6%), medical and wellness (65.8%), and food and beverage (64.9%) compared to May of last year.

The Korea Tourism Organization analyzed that the trend in spending by visitors to Korea has split into 'lifestyle consumption' led by the 2030 generation and 'ultra-luxury shopping' driven by Chinese tourists.

In Myeong-dong, Jung-gu, Seoul, services such as Nike's custom apparel production 'Nike By You' gained popularity, leading to a 162.0% increase compared to the same month last year, while Seongsu-dong in Seongdong-gu, Seoul, saw a 141.9% increase as foreign tourists flocked to famous outdoor brands.

In Seongsu-dong and Haeundae, Busan, pharmacy spending surged, fueled by the popularity of products such as regenerative creams.

Furthermore, as Chinese tourists led overall consumption growth, spending on watches and jewelry in Cheongdam-dong, Gangnam-gu, Seoul—an area dense with luxury boutiques—grew by 135.0% compared to the previous year, while spending on accessories rose by 197.7%.

The average transaction amount per payment in the watch and jewelry sector was 12.15 million won, with Chinese tourists being the primary consumer group.

Lee Mi-sook, head of the Tourism Data Hub Team at the Korea Tourism Organization, stated, "This shows that foreign tourism consumption has become segmented by commercial district, industry, and nationality," adding, "We will provide data-based insights so that local governments and the industry can capture these changes early and respond proactively."

(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.