Abu dhabi: The Republic of Korea's tourism balance achieved a record surplus since the COVID-19 pandemic, industry data revealed Sunday.
According to Emirates News Agency, the country's travel account was in surplus by US$596.6 million in June, a significant reversal from the same month a year prior, when the deficit was $846.8 million. This turnaround was based on data from the Korea Tourism Organisation as reported by Yonhap News Agency.
The June surplus is the second highest since October 2008, when the nation recorded a surplus of $661.5 million in the tourism sector. Korea's tourism balance had been consistently in deficit for 72 months since March 2020, during the pandemic's spread, but turned positive in March this year and has continued to maintain a surplus, according to the agency.
The total revenue generated from the tourism sector in June was $2.78 billion, with foreign tourists spending an average of $1,397 each, as indicated by the data.