S. Koreans' overseas credit card spending hit US$ 19.2 bil. in 2018, up 12% y/y: BOK
- 5 years ago
South Koreans' overseas credit card spending topped 19-point-two billion U.S. dollars in 2018, up twelve percent on-year.
The Bank of Korea attributed the rise to the increasing number of South Koreans travelling abroad.
More than 28 million South Koreans vacationed outside the country in 2018, up more than eight percent on-year.
In addition, the BOK said the stronger U.S. dollar drove higher credit card spending overseas.
The won-dollar exchange rate appreciated from 1-thousand-1-hundred-30 won in 2017 to 1-thousand-1-hundred won in 2018.
The Bank of Korea attributed the rise to the increasing number of South Koreans travelling abroad.
More than 28 million South Koreans vacationed outside the country in 2018, up more than eight percent on-year.
In addition, the BOK said the stronger U.S. dollar drove higher credit card spending overseas.
The won-dollar exchange rate appreciated from 1-thousand-1-hundred-30 won in 2017 to 1-thousand-1-hundred won in 2018.