Koreans' spending on overseas travel rose by the most in 30 months in January, to the pre-crisis level, as the local economy recovered and the local currency ascended to the U.S. dollar, central bank data showed Sunday.
The overseas travel expenditure reached $2 billion in January, up 29.2 percent from a year earlier and marking the highest level since the $2.24 billion recorded in July 2008, according to the Bank of Korea (BOK).
Local residents' spending on overseas trips nose-dived to $775 million in November 2008 when the country was in the middle of the global financial turmoil, but they have been on an overall upward trend since the economy began to pull out of its worst downturn in decades.
The Korean economy grew 6.1 percent in 2010, the fastest expansion in eight years, aided by strong exports and revival of domestic demand.
The local currency rose an average of 2.39 percent to the dollar in January, compared with the previous month. (Yonhap)