Among foreign tourists visiting South Korea last year, Americans spent the most on food, Japanese on medical services, and Chinese on shopping, according to a new report published by Visa on June 24.
The analysis by the global payment company covered spending from overseas-issued credit cards used in South Korea from April last year to March this year, with U.S. travelers leading in expenditures, followed by Japanese and Chinese, who together accounted for over half of the total. Tourists from Taiwan, Singapore, Thailand, and Hong Kong also ranked in the top seven.
Foreign visitors primarily spent money on food and shopping. About 15% of transactions were made at restaurants and duty-free shops. Hospitals and department stores each accounted for 10-15%, while clothing stores and discount shops made up 5-10%. Transportation expenses were 1-5%.
Spending habits varied by nationality. American tourists spent 21% on restaurants and 5% on grocery stores, showing a strong interest in food. Their transportation expenses were also high at 4%, influenced by the K-food trend. Asian tourists spent more on shopping. Japanese visitors spent 17% on medical services and 15% on retail stores, driven by the resurgence of medical and cosmetic tourism since last year. Chinese tourists spent 21% at retail stores, 15% at department stores, and 11% at clothing shops. Visitors from Thailand and Hong Kong had similar patterns, while Singaporeans spent the most on accommodation (18%).
A total of 4.866 million foreign tourists visited South Korea from January to April this year, up 86.9% from the same period last year, according to the Korea Tourism Organization. Chinese tourists ranked top spot by number, followed by those from Japan, Taiwan, and the U.S. The analysis is based on Visa card data and does not include UnionPay transactions, which are commonly used by Chinese tourists.
