Koreans’ top picks for value-for-money travel

Key points:

• Japan: #1 destination for first six months of 2024, consecutively
• March and April focus on Tokyo, Osaka and other Japanese cherry blossom destinations
• May and June strong for Cancun and Honolulu, due to Golden Week long haul travel
• Similar trends reported in Consumer Insight’s “Japan and Thailand: Top Cost-Effective Travel Destinations… and Korea?” report
• Preference for value-oriented travel with high value for money

Where should we travel as the weather warms this spring? Where are Korean travellers going during the Golden Week holiday when you can get five days off by using two vacation days? For those planning a trip ahead of the cherry blossom season and the Golden Week holidays, online travel platform Tourvis has released a forecast on Korean outbound travel trends for the first half of 2024 based on hotel check-in data.

Japan tops the list for six consecutive months, with Cancun and Hawaii strong in May and June

According to Tourvis‘ analysis of travel trends based on data from the first half of 2024, Japan was the top country for the sixth consecutive month, accounting for 42% of all bookings from January through June. This was followed by Vietnam at 9%, the US at 8%, Thailand at 6%, and Guam at 4%. There was minimal variance in results by city but there was a slight variation in the strongest areas depending on the month.

Tourvis is an online travel platform operated by travel technology company TIDESQUARE. Launched in 2000, Tourvis provides worldwide airline, hotel, tour and ticket products through a network of direct local contracts and partnerships. Through differentiated technology, Tourvis aims to provide best-in-class products and services to customers and grow as a trusted brand as the first ARMS-index certified Korean travel agency to offer NDC content directly to customers, select services in partnership with luxury hotel memberships, 99% of Japan/Europe transportation passes and mileage accumulation partnership with Korean Air.

In January and February, Fukuoka, Tokyo, Osaka, and Yufuin were all in the top five, accounting for 31% of all bookings. This is likely due to the popularity of New Year’s and Lunar New Year travel to these hot spring destinations, which are popular when the weather gets colder.

In March and April, Fukuoka, Tokyo, and Osaka were also in the top five, accounting for 25.5% of all bookings. Travelers seem to be concentrating on these popular destinations to see the Japanese cherry blossoms, which begin blooming in mid-March and peak in April.

In May and June, Cancun and Hawaii showed strong growth, ranking first and second in terms of bookings for the second consecutive month. In addition, European cities such as France, Italy, and Spain, as well as vacation destinations such as Bali and Guam, saw 7-10% month-over-month increases in bookings. With two long holidays in May that allow travelers to take up to five days off if they use two days of vacation, and a long weekend in June, many people are planning long trips, including honeymoons and early bird summer vacations.

Japan, Thailand ranked as best value for money destinations    

Japan, Vietnam, Thailand, and other Asian destinations continue to remain popular through 2024.

This is due in part to their proximity, but also to the low cost of travel due to low inflation, such as the yen. Consume Insight, a travel research firm released a report in February comparing overseas travel costs and satisfaction by country in 2023. Japan and Thailand are the top destinations for “low cost and high satisfaction,” followed by Australia, Indonesia, Vietnam, and Spain.

“Considering the contrasting phenomena of economic downturn and the boom in overseas travel, it is anticipated that there will be an increase in the selection of low-cost, value-for-money destinations in Asia in the future,” said Dr. Minhwa Kim of Consumer Insight.

Consumer Insight offers specialised and scientifically rigorous research services across diverse industries, including automotive, telecommunications, retail, tourism, and finance, leveraging an efficient online panel tailored for non-face-to-face surveys. Its emphasis is on elevating the value of data by seamlessly integrating various big data sources with panel research. The company is dedicated to applying these insights across multiple sectors. Notably, they have recently introduced ‘KD Panel’, a survey platform with nationwide representation, exclusively operating on a 100% mobile basis. This platform is now open for use by professionals throughout the research industry.

Jae-man Jung, Head of Digital Marketing at Tourvis, said, “We agree that cost-effectiveness affects the choice of travel destinations, and we will continue to identify customer preferences and trends based on various data to provide optimal services.

Source:

• Hotel check-in data from January to June 2024 on Tourvis
• Consumer Insight’s 2023 analysis of overseas travel value for money by country