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Taiwanese tourists propel surge in overseas spending

Reporter Huang-Chi Ho
Release time:2023/12/10 19:29
Last update time:2023/12/10 19:44
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TAIPEI (TVBS News) — Following the pandemic, overseas purchasing by Taiwanese travelers has significantly increased. The Financial Supervisory Commission reports that credit card spending reached NT$320.3 billion in September. From January to September, the total spending surpassed NT$3.1 trillion, a 22.23% increase from the previous year.

This surge is primarily driven by increased overseas tourism consumption. In seven of the first nine months of this year, credit card spending each month exceeded NT$300 billion.

 

Ms. Lu, a Taiwanese tourist, said, "When it comes to personal shopping in Japan, I usually end up spending at least around 40,000 Japanese Yen. Besides the essentials, I like to pick up items from drugstores and grab some souvenir gifts."

Teyeh, a tour guide, noted a shift in consumer behavior: "Because purchasing agents are now charging higher prices for certain items, people feel that going directly to the local area to buy whatever they like is a better option. At least from what I've seen, it's at least one-third cheaper than purchasing through an agent. You can observe that they easily spend 20,000 to 23,000 Japanese Yen."

Official Japanese statistics show that in June 2023, over 2 million foreign visitors came to Japan. The top three countries were South Korea, Taiwan, and the United States. Taiwanese visitors were the most significant spenders, with a total expenditure of NT$38.4 billion in Japan from April to June 2023.
 

"People nowadays are more inclined to invest in enjoyment compared to the past," Teyeh said. "During the era of budget airlines, the focus was on securing the best deals. However, as we return to normalcy, there is a growing desire for increased comfort."

Previously, a monthly credit card transaction volume of 250 billion was a significant achievement. In 2023, this benchmark was surpassed in seven months. The future of credit card spending depends on continued travel enthusiasm.
 

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#Taiwanese travelers#overseas purchasing#credit card spending#Financial Supervisory Commission#tourism consumption#Japanese spending#consumer behavior
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