Seoul: South Koreans' overseas card spending hit the highest-ever last year on the back of a rise in the number of outbound travelers and overseas direct purchases, data showed Wednesday. The amount of money spent overseas by South Koreans with credit and debit cards reached US$21.72 billion last year, marking a 13 percent increase from the previous year's $19.22 billion, according to data from the Bank of Korea (BOK).
According to Yonhap News Agency, the growth in overseas spending was largely driven by a 26.3 percent increase in the number of outbound travelers, totaling 28.69 million last year. Additionally, overseas direct purchases via credit cards saw a 14 percent rise from the previous year, amounting to $5.83 billion in 2024.
Despite the overall increase in spending, per-card spending saw a slight decline. The average amount spent per card decreased by 0.9 percent on-year to $300, as indicated by the data.