Foreigners' medical expenditures hit fresh high in May: data

Foreign tourists shop for medicines at a pharmacy inside the Lotte Department Store in Seoul, Feb. 9. Korea Times file

The combined amount of medical expenditures by foreign tourists in May hit a fresh high, data showed Sunday, in line with the growing popularity of Korean pharmaceutical products, as well as demand for health and beauty-related services.

According to data compiled by the Korea Tourism Organization, foreigners spent a combined 251.1 billion won ($165.2 million) on medical services in May, up 0.5 percent from a year earlier.

The estimate is based on expenditures made by foreign tourists using Shinhan Card, the organization said.

The figure marked a sharp rise from 109.6 billion won and 204.4 billion won recorded in February and March, respectively.

Of the total, 57.8 percent was spent at dermatology clinics, followed by plastic surgery facilities and pharmacies with 18 percent and 12.9 percent, respectively.

Industry watchers also said growing demand for pharmaceutical products, whose share accounted for just 4.9 percent in January last year, has been one of the contributing drivers of the overall growth.

By nationality, Chinese visitors spent the most at 63.6 billion won, followed by Americans with 46.2 billion won and Japanese with 32.9 billion won.

"We plan to diversify marketing projects as purchasing patterns in the medical sector differ by country of origin," an official from the organization said, noting it will also work with regional governments to disperse demand across different regions.