(MENAFN- Qatar News Agency) South Korea may log the largest tourism deficit in three years in 2013 as the won's ascent has sent more travelers abroad, South Korea's News (Yonhap) reported Tuesday.
The accumulative deficit in the first 11 months of this year amounted to $3.26 billion, up 26.3% from a year earlier, the data showed
Given that spending on overseas travel tends to increase in December, this year's shortfall may become the largest since 2010 when the tourism deficit reached $3.97 billion
In the third quarter, the number of outbound travelers jumped 14.7% on-quarter to 4.02 million as the local currency gained 6.9% to the greenback compared with three months earlier, according to the Bank of Korea (BOK)
Korea's travel account logged a deficit of $6.66 billion in the January-November period, compared with a shortfall of $6.27 billion the previous year, according to the BOK
The travel account, which tracks outlays by South Koreans on overseas trips and studies, is part of the service account.
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