South Korea posts record tourism deficit in 2017
- 6 years ago
South Korea saw a record deficit on its tourism account last year.
According to the Korea Tourism Organization on Wednesday,… last year's tourism deficit was 13-point-seven billion U.S. dollars, more than double the previous year.
Foreign tourists spent 13-point-three billion dollars in Korea in 2017, a 22-point-five percent drop from a year earlier.
Experts say the record deficit was due to a fall in the number of Chinese tourists over China’s economic retaliation to Korea's deployment of the THAAD missile system,... and also due to a large increase in the number of Koreans traveling abroad.
Koreans spent over 27 billion dollars abroad last year, up nearly 15-percent on-year.
According to the Korea Tourism Organization on Wednesday,… last year's tourism deficit was 13-point-seven billion U.S. dollars, more than double the previous year.
Foreign tourists spent 13-point-three billion dollars in Korea in 2017, a 22-point-five percent drop from a year earlier.
Experts say the record deficit was due to a fall in the number of Chinese tourists over China’s economic retaliation to Korea's deployment of the THAAD missile system,... and also due to a large increase in the number of Koreans traveling abroad.
Koreans spent over 27 billion dollars abroad last year, up nearly 15-percent on-year.