Foreign arrivals to Korea top 18.94 million... Record reached more than two months early, with 20 million in sight

[Financial News] This year, the number of foreign tourists visiting Korea surpassed last year’s annual record more than two months early, setting an all-time high. The first-ever annual total of 20 million is also within reach.
According to the Ministry of Culture, Sports and Tourism on the 27th, cumulative arrivals to Korea were estimated to have surpassed last year’s record of 18.94 million. The estimate was based on the provisional tally of 18.91 million through the previous day and this year’s average of 64,000 arrivals per day.■ Arrivals to Korea up 21.5%... 23 million expected by year-endFrom January to September this year, arrivals to Korea totaled 17.11 million, up 21.5% from the same period last year. Over the same period, foreign tourist numbers fell by 2.9% in Japan and 3.8% in Thailand, while Vietnam saw an increase of 14.5%.
The market for travel to Korea stood at 17.5 million visitors in 2019, before the spread of COVID-19. It fell to as low as 970,000 in 2021 but has continued to recover since then.
By market, arrivals from Greater China—which includes China, Taiwan, Hong Kong and Macau—rose 29.1% to 7.92 million. Arrivals from Japan increased 16.9% to 3.12 million, while those from Europe and the Americas rose 15.1% to 3.07 million. Last month, arrivals to Korea totaled 2.06 million, up 21.1% from the same month a year earlier.
Women accounted for 62.4% of arrivals to Korea. By age group, people in their 20s and 30s made up 49.8%, close to half.
The Ministry of Culture, Sports and Tourism forecast that, if the current growth trend continues, cumulative arrivals to Korea will exceed 20 million in the third week of November and reach the government’s target of 23 million by year-end. An estimated 1.94 million visitors are expected to arrive in November alone.■ Regional tourism and spending expand... Preparing for 30 million visitorsFrom January to September this year, 4.82 million people entered through airports and ports outside the capital region, up from 3.74 million over the same period last year. Their share of all arrivals also rose by 1.7 percentage points, from 26.5% to 28.2%.
Visits to regional destinations totaled 64.72 million, an increase of 19.7%. This figure was estimated using SK Telecom network data, counting a stay of at least two hours in each region as a visit.
Over the same period, foreign visitors’ credit card spending rose 47.7% to 15.9 trillion won. By sector, shopping accounted for 37.0%, accommodation for 19.6%, and medical and wellness services for 16.6%. Medical and wellness spending includes not only hospitals and pharmacies but also cosmetics stores and makeup services, among other things.
The government assessed that the spread of K-culture, expanded air service and eased visa issuance had contributed to growth. It said that, despite uncertainties such as exchange-rate fluctuations and high oil prices, measures including cross-ministerial cooperation enabled by elevating the National Tourism Strategy Meeting to a body under the president, improvements to transport convenience and stronger overseas marketing had been effective.
The government plans to strengthen cooperation among central and local governments and the private sector, centered on the National Tourism Strategy Meeting, to attract 30 million foreign tourists, while also preparing for a future with 40 million visitors.
Minister of Culture, Sports and Tourism Choi Hwi-young said, “Building on the current growth trend, we will focus our efforts not only on quantitative expansion but also on improving quality.”


[email protected] Jang In-seo Reporter