Foreign visitors up 22% from last year

August hits record 1.72 million; China, Japan, Taiwan lead by nationality

Card spending jumps 60%; consumption spreads to traditional markets

Total spending reaches 7.8 trillion won over eight months

Foreign tourists shop along Myeong-dong street in Jung-gu, Seoul, on Tuesday. [Yonhap]
Foreign tourists shop along Myeong-dong street in Jung-gu, Seoul, on Tuesday. [Yonhap]

Foreign visitors to Seoul this year grew about 22 percent from a year earlier, while their card spending surged by roughly 60 percent — nearly three times the pace of visitor growth. Their cumulative card spending from January through August reached approximately 8 trillion won ($5.89 billion), working out to close to 1 trillion won per month.

In response, the Seoul Metropolitan Government said it plans to boost its "nighttime economy" — one of the key priorities of the current administration — to extend tourists' stays and spread tourism spending across the city.

According to the Seoul Metropolitan Government, cumulative visitors from January through August totaled about 11.56 million, a record high and a 21.6 percent increase from the same period last year, when about 9.51 million people visited. August alone drew about 1.72 million foreign tourists, up 23.3 percent from about 1.4 million in the same month last year.

By nationality, tourists from China, Japan and Taiwan together accounted for 66.4 percent of all foreign visitors to Seoul in August. Chinese tourists led with 636,000 (36.9 percent), followed by Japanese tourists at 322,000 (18.6 percent) and Taiwanese tourists at 188,000 (10.9 percent).

Foreign tourists' card spending from January through August came to 7.78 trillion won, up 59.9 percent from 4.87 trillion won in the same period last year. Given that full-year card spending last year totaled 7.94 trillion won, this year's eight-month figure has already nearly matched the entire annual total.

By sector, last year's card spending broke down as follows: retail shopping at 46.6 percent, medical and wellness services at 23.8 percent, food and beverage at 13.2 percent, and accommodation at 10.4 percent. Spending at large shopping malls rose 77.5 percent year-on-year, with medical tourism (64.2 percent) and general dining (59.5 percent) also driving the overall increase.

Spending spread beyond major tourist hubs into alleyway commercial districts and traditional markets across the city. Card spending by foreign tourists in Seongsu-dong and the Myeong-dong area rose 103.7 percent and 74.7 percent, respectively, from a year earlier. Areas near Dosan Park (up 240.1 percent), the Gyeongsu Elementary School vicinity in Seongsu-dong (up 206.6 percent) and Gwangjang Market (up 127.4 percent) also posted sharp gains. Established tourist destinations — Yeouido IFC and Hyundai Seoul (up 58.2 percent), Apgujeong (up 57.1 percent) and Gangnam Station (up 53.9 percent) — likewise recorded strong growth.

Going forward, the Seoul Metropolitan Government plans to develop Dongdaemun Design Plaza, Namsan, Gwanghwamun and the Han River as four major nighttime landmarks to extend tourists' stays and broaden tourism spending. It will also strengthen ties between nighttime tourism content and local commercial districts. Seoul Dal, the city's flagship nighttime tourism attraction, will extend its operating hours by one hour every Friday and Saturday through this month, running until 11 p.m. The full "Seoul Tourism and Consumption Trends" report is available on the Seoul Data Hub website.

"Following a record number of foreign tourists in August, tourism spending is also growing rapidly, amplifying the economic impact of Seoul tourism," said Jo Seong-ho, director of the Seoul Metropolitan Government's Tourism and Sports Bureau. "We will strengthen the link between nighttime content and local commercial districts, centered on Seoul's nighttime economy, so that tourists stay longer in Seoul and tourism spending spreads throughout the city."


ken@heraldcorp.com