Korea Inbound Tourism from Jan to Apr 2024

Korea’s appeal spans the globe

·From January to April 2024, the number of foreign tourists visiting Korea reached 4,865,670, an 87% increase compared to the same period in 2023, and 89% of the peak level seen in 2019. 

·Tourists from Asian countries more than doubled compared to 2023, but still fell 15% short of 2019 levels. While major Asian countries like Japan, China, the Philippines, Hong Kong, Malaysia, and Vietnam saw a significant rise in tourist numbers, Thailand experienced a decline. Singapore, Indonesia, and India surpassed their 2019 figures. ·Tourists from the Americas, Europe, Oceania, and Africa exceeded 2019 levels, with most major countries (except war-affected Russia and Ukraine) sending more visitors than in 2019.

Air travel works, but so does a sea voyage

·Between January and April 2024, 88% (about 4.27 million) of foreign tourists to Korea arrived by air, and 12% (about 600,000) by sea. The number of sea arrivals increased by 7% (around 40,000) compared to 2019. 

·Since August 2023, cruise travel from China has resumed, leading to a steady rise in Chinese tourists by sea, with over 28% of Chinese visitors arriving this way in March and April 2024.

Open sky and sea routes, but closed wallets

·The number of foreign tourists visiting Korea continues to rise, but per capita spending has significantly dropped. From January to April 2024, the average spending per tourist was $1,063, well below $1,286 in 2019 and $1,858 in 2023. In March, the figure fell to just $827. 

·Despite an increase in visitors from high-spending countries like China, the U.S., Germany, France, and the U.K., their average spending decreased due to shorter stays. 

·In the first quarter of 2024, the average stay of foreign tourists in Korea was 6.5 days, a decrease of 1.9 days compared to the same period last year. Visitors from most major countries stayed for shorter periods than in 2023. Notably, Chinese tourists, who stayed an average of 13.7 days in the first quarter of last year, only stayed for an average of 6.5 days this year. 

·Additionally, the increase in leisure travelers (+8.4%) and the decrease in business travelers (-3.6%) likely contributed to the drop in per capita spending.