Overseas card spending hits record high in Q3 on surging travel demand

SEOUL, Nov. 26 (Yonhap) -- South Koreans' overseas card spending rose more than 10 percent in the third quarter from three months earlier to reach an all-time quarterly high, partly on a rise in the number of outbound travelers during the summer vacation season, data showed Tuesday.

The amount of money spent overseas by South Koreans with credit and debit cards came to US$5.71 billion in the July-September period, up 10.1 percent from the previous quarter's $5.18 billion, according to the data from the Bank of Korea (BOK).

Compared with a year earlier, overseas card spending surged 19.1 percent in the third quarter.

The quarterly figure marked the highest figure ever, beating the previous record of $5.19 billion set in the fourth quarter of 2023.

The growth came as the number of outbound travelers advanced 8.7 percent on-quarter to 7.17 million during the cited period.

Overseas direct purchases via credit cards, however, fell 4.4 percent from the previous quarter to $1.41 billion in the July-September period, the data showed.

graceoh@yna.co.kr
(END)