24949
S. Korea Travel Deficit at 7-Year High
World Economy

S. Korea Travel Deficit at 7-Year High

South Korea’s monthly travel deficit in July soared to a 7-year high, as the Middle East respiratory syndrome outbreak held back foreign travelers from visiting the country, central bank data showed on Wednesday, NewsNow reported. According to Bank of Korea’s report on the July balance of payments, the travel account logged a $1.45 billion deficit. This is the largest deficit since July 2008, when the global financial crisis pushed up the travel account deficit to $1.65 billion. An increase in the travel account deficit means that Koreans are spending more overseas than the foreigners visiting Korea. Overall, the July current account surplus stood at $10.11 billion, down 16.5% month-on-month from June’s $12.11 billion.

Short URL : https://goo.gl/Mzdswg
  1. https://goo.gl/CRBAwy
  • https://goo.gl/jC0YRw
  • https://goo.gl/6AJoJ7
  • https://goo.gl/00ddBk
  • https://goo.gl/tl4zw5

You can also read ...

Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
UK Economy Will Shrink Without Brexit Deal
Britain’s economy will shrink if the country leaves the...

Trending

Googleplus