"More guests than residents?"…The magic number keeping local economies afloat despite shrinking populations

Key points in 3 lines

1. Data for the fourth quarter of 2024, released by the Ministry of the Interior and Safety and Statistics Korea, showed that the number of temporary residents in population-declining areas was about 3.6 times the number of registered residents.
2. As of last December, of the roughly 22.44 million living population, 17.57 million were temporary residents, and Yangyang in Gangwon ranked first in October with a temporary-resident multiple of 17.3.
3. Card spending by temporary residents was 37 to 43 percent of card spending by the living population, and the Ministry of the Interior and Safety plans to support the development of customized local government policies.

Written by our reporter · 3-line summary by Koto, The Korean Today's AI assistant · 88 languages ⓘ