International visitor arrivals to Seoul surged by 21.3 percent to 8.23 million in the first half of the year, driving a massive 56.8 percent spike in foreign credit card expenditure to KRW 5.62 trillion (KES 546 billion).
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The global economy is undergoing a structural transformation that goes well beyond ordinary cyclical fluctuations. Supply-chain disruptions following the COVID-19 pandemic, energy supply problems, geopolitical tensions, particularly war, protectionist trade policies, U.S. tariffs, and intensifying competition in advanced technologies such as artificial intelligence (AI) are reshaping the fundamental parameters of the global economic system.
