South Korea Sees Record Duty-free Sales Despite Travel Ban

The seemingly neverending South Korea travel ban saga has taken another turn as it was revealed that duty-free sales broke a new record in 2017—despite the country being subject to a Chinese travel ban for a large part of the year. Combined sales at the 48 licensed duty-free retailers i the country reached 14.5 trillion won (US$13.6 billion), up 17.9 percent from the 12.3 trillion won (US$11.5 billion) brought in last year.

According to data released by the Korea Tourism Board, the travel ban had a dramatic effect on Chinese arrivals, with 3.8 million Chinese tourists visiting the countries in the first 11 months of 2017, down by 49.1 percent compared to the same period in 2016. In 2017, Chinese visitors accounted for 31.4 percent of all foreign arrivals in South Korea, down from 47.4 percent in 2016. As a result, total arrivals in South Korea took a dive by 23.3 percent.

Read More – Jing Travel

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