Outbound Travel Trends 2024 LEMON.LAB

Outbound

Travel Trend

2024

South Korea

2024 Korea Tourism Statistics

With the end of the COVID pandemic, 2024 is expected to be a year of significant recovery in the international tourism market. Before COVID, in 2019, the number of overseas tourists from Korea was 17.5 million, ranking it 16th in the world in terms of the tourism market

2024 outbound travel trends of South Korea is forecasted, focusing on aspects such as transportation, consumption patterns, and trends in major destinations.

Accessibility - Increase in the Number of Flights

Korea is a peninsula; however, due to the division between North and South Korea, it is effectively isolated like an island. Therefore, virtually the only means of transportation for overseas travel is airplanes, and changes in air travel conditions are an important barometer of the Korean overseas travel market. Air travel conditions are expected to improve overall in 2024 for the following reasons.

Increase in International Flights at Incheon International Airport

The number of international flights at Incheon International Airport for the 2024 summer season is expected to reach a record high of approximately 277,000, surpassing both pre-COVID-19 levels and the highest number since the airport's opening. This represents a 33.8% increase compared to the 2023 summer season and an 18.5% increase from the 2019 summer season.

New and Increased Flights by Airlines

Various airlines are planning new routes or increasing flights. Swiss Air, Air Japan, WestJet, among others, are initiating new routes, while Delta Airlines, United Airlines, Ethiopian Airlines, and others are planning to increase flights. This expansion will enhance travel options and accessibility.

Expansion of Incheon International Airport Infrastructure

The fourth phase of the Incheon International Airport construction project is expected to be completed by October 2024. This expansion is in response to the increased demand for air travel in the Asia region and is expected to heighten interest in new routes via Incheon Airport.

Stabilization of Long-Haul Routes Expected

Plans for new routes and increased flights by major foreign airlines operating long-haul routes to America and Europe are expected to stabilize long-haul airfares. This is anticipated to reduce the burden of long-distance travel and attract more tourists.

Budget - Increasing in Travel Budgets Among Korean Tourists

Korean travelers consider hotel costs (26%) and airfare (24%) as the most important factors in choosing a destination, still valuing cost-effectiveness. However, 43% of Korean travelers have set a higher budget for travel in 2024 compared to 2023, while 37% responded they would maintain the same budget. Only 8% said they would reduce their spending(Skyscanner, 2023).

Demand - Passport issuances exceed the 2019 oversea tourist peak

In 2023, the number of passports issued to Koreans increased significantly, more than doubling compared to the previous year and far exceeding the figure in 2019 before the coronavirus. The total number of passports issued in 2023 is 6,308,377, an increase of approximately 1.3 times compared to 2019, when the number of Koreans leaving the country reached an all-time high (28.71 million). The number of Koreans leaving the country last year was about 22.71 million, which was less than the 2019 level, but the number of passports issued far exceeded the 2019 figure, and a significant increase in the number of overseas trips by Koreans is expected after 2024.
By age, people in their 20s issued the most with 1,118,208, followed by 10s (1,025,662) and people in their 30s (873,789). The gender ratio was 50.9% female and 49.1% male, with no significant gap. According to the Ministry of Foreign Affairs, of the 6,179,463 passports issued domestically, the number of passports issued in Seoul was 1,396,029, accounting for 22.5% of the total.

Particularly, recent studies have indicated a notable increase in overseas travel among men in their twenties compared to pre-COVID times. Historically, European travel was predominantly undertaken by women and tourists over 50. However, an increase in visits by men in their twenties has significantly lowered the overall age demographic. In Europe, the proportion of tourists aged 50 and above decreased from 52% in 2019 to 50% in 2023, a 2 percentage point drop, while the 20s and 30s age group increased from 35% to 38%, a rise of 3 percentage points. In Switzerland, during the same period, tourists over 50 decreased from 63% to 50%, a 13 percentage point reduction, whereas those in their 20s and 30s increased from 24% to 41%, a 17 percentage point rise, indicating an increased demand among those in their twenties for natural landscapes.

LEMON.LAB Professionals™ (“LEMON.LAB”) possesses a deep understanding and knowledge of the travel motivations, needs, behaviors, and trends of Korean tourists, along with extensive experience in attracting tourists and developing marketing strategies.

Not only does it consider the needs and trends of Korean international tourists, but it also analyzes the market taking into account the direct and indirect impacts of political, economic, social, cultural, and technological factors that lead to actual visits. Based on this analysis, it proposes strategies that align with the goals of public and private sector projects.

For inquiries, please send an email to chief@lemonlab.pro.

This report has been prepared by the experts at LEMON.LAB Professionals™ (“LEMON.LAB”) to provide general information based on the data they have collected. Various procedures have been followed to verify the accuracy and reliability of the information included in the report, but its completeness is not guaranteed.

This report is not intended to provide advice on specific cases for any particular company or individual. If specific decision-making is required, please consult with the experts at LEMON.LAB.

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