Korea's tourism balance hits record surplus since pandemic: data
Korea's tourism balance hit a record surplus since the COVID-19 pandemic period, thanks to the popularity of the country's pop culture, industry data showed Sunday. The country's travel account was in the black by $596.6 million in June, marking a dramatic turnaround from the same month a year earlier when the deficit stood at $846.8 million, according to the data from the Korea Tourism…
Korea's tourism sector recorded a record surplus in June, marking a significant shift from the previous year's deficit, according to data from the Korea Tourism Organization. The month saw a surplus of $596.6 million, the second highest since October 2008, when a surplus of $661.5 million was recorded. This turnaround came after the sector had remained in the red for 72 consecutive months since March 2020, amidst the COVID-19 pandemic.
The surge in tourism revenue can be attributed to the country's global reputation in various domains, including K-pop, popular culture, and cuisine. Each foreign tourist spent an average of $1,397 during their visit, contributing to a total revenue of $2.78 billion in June.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
