South Koreans spent a new record high abroad last year on increased outbound travel, despite an economic slump and sagging domestic consumption, data showed Saturday.

Expenditures on ordinary foreign trips, excluding stays for study, jumped 7.4 percent on-year to $23.1 billion for the year, according to the Bank of Korea and the Ministry of Culture, Sports and Tourism.

Koreans’ overseas spending has been on a constant rise from $15.5 billion in 2011 to $16.5 billion in 2012, $17.3 billion in 2013 and $19.4 billion in 2014.

The trend is attributable to an increasing number of people making overseas trips during major holidays and vacations. (Yonhap)