S.Korea’s medical tourism thrives on weak currency

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The story "S.Korea’s medical tourism thrives on weak currency" was covered 6 days ago by Korea Economic Daily, a news publisher based in South Korea.

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S.Korea’s medical tourism thrives on weak currency - Korea Economic Daily

Quick Summary:

Foreign visitors to South Korea jumped nearly 20% early this year, largely driven by a sharp depreciation in the country’s currency value against major foreign currencies, which has also led to a boom in Korean medical tourism.

The weak Korean won, which buoys the value of major foreign currencies, makes dermatology clinics’ aesthetic services and plastic surgery cheaper for foreign visitors to Korea.

But tourism industry experts noted that the Korean tourism boom, driven by the weak currency effect, is not sustainable.“It is important to improve Korea's national image, impaired by the recent political upheaval, to keep the tourism boom,” said Chung Ran-soo, a professor at Hanyang University’s tourism department.