The amount of credit card spending by foreigners in Korea outweighed that by Koreans on overseas trips for the first time, central bank data showed today.
Credit card spending by foreigners reached about US $3.3 billion in the third quarter, up about 12 percent from three months earlier. In the same period, credit card spending by Koreans on overseas trips rose 7.6 percent on-quarter to $3.2 billion, according to the data by the Bank of Korea.
It marked the first time that credit card spending by foreigners beat that by Koreans on overseas trips since the central bank began compiling the data in 2001.
The reversal was credited to a rise in the number of tourists visiting South Korea. Some 4 million foreigners entered the country in the third quarter, up from 2.9 million at the end of last year, according to separate data by the Korea Culture & Tourism Institute.
The Latest Haps
The Busan International Ocean Marathon takes place on Sunday, October 2. Some streets on the marathon route will be closed.
The country’s top court has sentenced a South Korean man to 12 years in prison for attempting to murder the U.S. ambassador to South Korea Mark Lippert.
The Kim Young-ran anti-graft law is taking in effect starting today. The law aims to prevent government employees and various officials from receiving bribes.
Busan Subway Lines 1, 2 and 3 have begun emergency services today due to a general strike of the Busan Metro Labor Union.
Busan will light up with K-Pop stars, food and culture for the month of October.
The tentative lineup for guests visiting the 21st Busan International Film Festival for the opening day on October 6th is near completion.
With the nation’s biggest shopping and cultural event “Korea Sale’s FESTA” beginning today, Busan’s distribution industries have begun participating in an all-out competition.
The Busan One Asia Festival is offering free admissions to Taste Busan and the Korean Wave Star & Beauty Collection for foreign guests at BEXCO.
BeFM’s “On the Road Busan” team invites you for a final FREE trip around the beautiful Busan Bay at the Wave Yacht Lounge Closing Party on Saturday, October 8th.
The Busan International Food Expo 2016 will be held in BEXCO from October 6th to the 9th.
The “2016 Jinju Namgang Lantern Festival” will begin on October 1st and end on the 16th at Jinju Namgang Ilwon.
A new survey by MasterCard shows that Seoul is once again the 10th most popular city for travel in the world.
Join forces for good and come participate in the 2016 Superhero Comic Dash! Presented by The H.U.G.S (Helping Us Grow to be Superheroes) Association.
Runners from around the world will gather at the 2016 Busan International Ocean Marathon on Oct. 2.