Korea’s outbound travelers spend 20% more on-year in H1: BC Card

South Korea’s outbound travelers spent 19.8% more in the first half of this year compared with a year ago amid a revival in overseas tourism, according to a BC Card report on Monday.

The credit card users' spending on transportation and accommodation in the first six months rose a respective 29% and 6% on-year, the report said. Their expenses in the first-half year surged 45.9% compared with three years ago, when COVID-19 slammed the tourism industry.

Their spending on gasoline declined 17.2% in the first half from a year ago. The drop was not big as consumers couldn’t significantly cut spending on the resource given the surge in oil prices, a BC Card official said.

BC Card holders also spent more on alcoholic beverages and cultural experiences in the first half. Their expenses at bars rose 27% from a year ago, and spending on cultural events such as movies and live performances jumped 25% on-year.

The credit card company also saw a growing trend toward spending online, where consumers can buy cheaper products with fast delivery service.

The cardholders’ expenses online in the first six months 8% and 28%, from the first half of 2022 and 2020, respectively. Their spending offline respectively declined 4% and 5%, in the same periods.

They spent more on sports, education and pet care in the first half of this year compared with three years ago, but less than the same period last year, the report said.

Write to Mi-Hyun Jo at mwise@hankyung.com
Jihyun Kim edited this article.