Data released by the Bank of Korea on May 30 showed that travelers to South Korea spent about $3 billion in the first quarter of 2023 while South Koreans traveling abroad spent about $6.3 billion. Frequent travelers who were grounded during the pandemic period headed to other countries. Some five million travelers headed to foreign countries, up 1100 percent from a year ago.
According to a weekly survey of 500 travelers, conducted by market data analyst firm Consumer Insight, 73.5 percent visited Asian countries in April. 10.3 percent visited countries in the Southern Pacific region, while 4.1 percent visited North and South American countries.
Among those who visited Asian countries, 31.9 percent visited Japan. Japan is favored by many young travelers because it takes about two hours by flight to reach Tokyo from Incheon International Airport, South Korea's main gateway, making it easier for working people to visit their neighboring country during the weekend or a short holiday.
Viet Nam was the second-most favorite travel destination with 17.2 percent. The Philippines was the third-most favorite with 6.4 percent. Travelers chose to visit Viet Nam and the Philippines to spend relaxing time at resorts and sightseeing.
51.45 percent of the travelers went on a short-term trip of less than five days while 34.9 percent went on a mid-term trip of more than five days and less than 15 days. The average days spent on an overseas trip were 7.4 days and travelers spent an average of 1,950,000 won ($1,492), up 30 percent from 2019. Consumer Insight analyzed that the average days and money spent on a single trip will be reduced as the normalization of overseas trips proceeds over time.
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