South Koreans’ overseas card spending jumped 32 percent last year on the back of increased overseas travel and increased direct purchases, central bank data showed Thursday.
The amount of money spent overseas by South Koreans with cards, including credit and debit cards, came to US$19.22 billion last year, compared with $14.54 billion a year earlier, according to the data from the Bank of Korea (BOK).
The BOK said the overseas card spending grew as more people went abroad on the back of eased coronavirus restrictions and Koreans’ overseas purchases increased.
The number of outbound travelers stood at 22.72 million last year, sharply up from 6.55 million the previous year, industry data showed.
Overseas direct purchases via credit cards stood at $5.17 billion last year, also up from $4.14 billion the previous year, according to the data.
Source: Yonhap News Agency