Money Spent on Overseas Travel Up Sharply

According to The Bank of Korea the total sum of money spent by those who traveled to foreign countries during last January and February, amounted to twice that of same period last year.
additionally the Bank of Korea stated that, the total expenditures by overseas travelers during January and February of this year, amounted to 538.7 million dollars, an increase of 103 percent over the same period last year.
The cost of studying abroad and overseas research during this period totaled 122.4 million dollars, which was up 24.8 percent from 98.1 million dollars last year.
This sharp rise of overseas expense is mainly attributed to the large increase of those who departed from South Korea and their associated spending.
The number of those who departed from South Korea during the same period last year amounted to 622,800, an increase of more than 205,000 compared to that of last year. Their average spending also increased to 865 dollars from 634 dollars.
Whereas, those who traveled to South Korea during this period, spent a total of 915.58 million dollars, an increased of 16.6 percent from that of last year. The average visitor average spent 1,341 dollars, a modest 1.2 percent.
Jangsoo Seo:jsbee@Joongang.co.kr