Korea's duty-free sales jump 59% in May on Chinese buying
- 6 years ago
The local tourism industry had been in a slump for the better part of a year after China banned the sale of group tours to South Korea.
But with that ban now partially lifted in the past few months, data show signs of hope, at least for the nation's duty free shops.
According to the Korea Duty Free Shops Association, last month they posted their third-best total sales -- of 1-point-4-9 billion U.S. dollars.
It was an improvement over the same month last year, when the China ban was still in full effect, of over 59%.
The best month on record was this January, and second was March.
An industry official attributed the jump in part to Chinese travelers who are big duty-free shoppers.
Sales to foreign nationals in May were 3-point-6 times higher than to Koreans.
But with that ban now partially lifted in the past few months, data show signs of hope, at least for the nation's duty free shops.
According to the Korea Duty Free Shops Association, last month they posted their third-best total sales -- of 1-point-4-9 billion U.S. dollars.
It was an improvement over the same month last year, when the China ban was still in full effect, of over 59%.
The best month on record was this January, and second was March.
An industry official attributed the jump in part to Chinese travelers who are big duty-free shoppers.
Sales to foreign nationals in May were 3-point-6 times higher than to Koreans.