Market Insights Snapshot for South Korea
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Japan and South Korea
Market Insights Snapshot for Korea
Market Trends
- Despite economic downturn, robust travel demand persists: Despite economic challenges, Koreans are increasingly motivated to travel abroad, fueled by abundant travel content on television and social media. The fear of missing out (FOMO) on travel experiences is pervasive, compelling individuals to travel to avoid feeling left out.
- Strong performance in outbound travel, including to Australia: Korea has demonstrated remarkable recovery post-pandemic, achieving the fastest rebound among core markets. Total outbound travel from Korea reached 22.7 million in 2023, representing 80% recovery compared to pre-pandemic levels. Notably, Korean arrivals in Australia surpassed pre-pandemic figures, with 288,010 arrivals in 2023.
- Expanded aviation capacity is driving growth: Korea has experienced significant growth in flight capacity, with weekly flights increasing from 21 in February 2019 to 38 in February 2023, marking a 182% increase and contributing to strong travel performance.
Buyer Snapshot
- Korean buyers consist of 23 individuals, comprising 20 distribution partners and 3 media. Among the distribution buyers, 18 are first-time attendees of ATE, including high-end travel specialists affiliated with prestigious networks such as Virtuoso or Serandipian.
Consumer Trends
- According to recent research, Sydney, Melbourne, Gold Coast, Brisbane, and Canberra are highly desirable to Korean travelers, with Sydney and Melbourne leading in awareness and consideration. Safety, cleanliness, hygiene, and value for money are key factors influencing destination choices for Korean travelers, with Australia ranking third behind Japan and Hawaii in awareness and consideration.
