Home > Destinations > Chinese tourists spend 85 billion RMB in Korea: equivalent to buying 920,000 cars

Chinese tourists spend 85 billion RMB in Korea: equivalent to buying 920,000 cars

10/11/2014| 3:51:24 PM| 中文

160,000 Chinese visited Korea during the National Day Holiday which brought a tremendous boost to the country’s retail business.

According to South Korean media “AJU Business Daily”, this year the amount of spending by Chinese tourists in Korea will reach 14 trillion Won (approximately 84.9 billion RMB) which is the equivalent to the export price of 920,000 Hyundai Avante cars.

160,000 Chinese visited Korea during the National Day Holiday which brought a tremendous boost to the country’s retail business.    

The three top Korean department stores Lotte, Shinsegae, and Hyundai reported that sales to Chinese customers during this year’s National Day Holiday increased 80% compared to the same period last year.

Lotte Department Stores reported that from the 1st to the 5th of October Union Pay Card sales at their Myeong Dong main store was double the sales in the same period last year.

It is estimated that Chinese tourists will make 5.98 million trips to Korea this year. Chinese tourists visiting Korea these days are a much more diverse group than before evolving from the tour groups of the past to independent travelers. However, the consumer spending by Chinese tourists is just as high as ever making them “VIP guests” in Korea. (Translation by David)

TAGS: Korea | retail | Chinese tourists
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