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Household lottery spending gains 7 2% in 2020

Posted : 2021-04-13 09:37 gettyimagesbank South Korean households spending on lottery tickets rose more than 7 percent in 2020 despite a record fall in their overall consumption, government data showed Tuesday. Local households spent a monthly average of 590 won (US$0.52) on lottery tickets last year, up 7.2 percent from a year earlier, according to the data from the Korean Statistical Information Service (KOSIS). The tally covers both lottery-buying households in Asia s fourth-largest economy and those that don t purchase tickets. The increase came as local households consumption expenditures shrank at the fastest pace in 2020 due to the fallout from the coronavirus outbreak. South Korean households consumption expenditures decreased 2.3 percent last year from 2019, the largest drop since data tracking began in 2006.

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