JEJU-DO < invest Korea

According to The Korea Economic Daily Global Edition,

It has been revealed that spending by foreign tourists visiting Jeju Island has significantly increased since the end of the COVID-19 pandemic.

According to the "Analysis of Spending and Movement Patterns of Foreign Tourists Visiting Jeju Island" released by Hana Card on Monday, the card usage volume by foreign tourists who visited Jeju Island from Jan. to Aug. this year amounted to 220 billion won ($166 million), which is a 158% increase compared to the same period last year.

Among this, the card usage amount in the peak summer season last month alone reached 43 billion won ($32.5 million). This is a 65% increase compared to Aug. 2019, just before the COVID-19 outbreak.

By nationality, Singaporeans spent the most at 62 billion won, followed by the United States at 39 billion won, China at 22 billion won, Taiwan at 21 billion won, Hong Kong at 15 billion won and Japan at 10 billion won. In terms of industry, accommodation saw the highest spending.

The amount spent on hotels from Jan. to Aug. this year reached 86 billion won ($64.9 million). This is a 114% increase compared to the same period in 2019. Shopping (39 billion won) and restaurants (23 billion won), as well as casinos (17 billion won), also recorded significant card usage amounts.

Mi-Hyun Jo at mwise@hankyung.com

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Source: The Korea Economic Daily Global Edition (September 18, 2023)