Key facts
- Foreign tourist spending in South Korea reached a record 1.41 trillion won in May.
- This is the third consecutive month that foreign spending has exceeded 1 trillion won.
- Spending by inbound travelers increased by 73.7 percent year-on-year.
- Shopping accounted for the largest share of foreign spending at 39.1 percent.
- Beauty wellness and fashion were the next largest spending categories.
Foreign tourist spending in South Korea reached a record high of 1.41 trillion won (US$911 billion) in May, marking the third consecutive month that spending surpassed 1 trillion won. This figure represents a 73.7 percent increase compared to the previous year, according to data from the Korea Tourism Organization.
Spending by foreign travelers first exceeded 1 trillion won in March, partly driven by global fans of the K-pop group BTS attending events in Seoul. A subsequent record was set in April. The continued high spending in May, even without major BTS events, suggests a more stable recovery phase for South Korea's tourism sector, experts noted.
Shopping constituted the largest portion of foreign spending at 39.1 percent. Other significant categories included beauty wellness (21.1 percent), fashion (14.3 percent), and lifestyle food (11.9 percent).