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[Yanolja Research Brief] Vol.5 Korea's Inbound and Outbound Tourism Performance in 2024

Korea’s Tourism Landscape in 2024: Key Highlights

2024 marked a dynamic year for Korea’s tourism industry, with both inbound and outbound travel showing strong signs of recovery. Explore the main trends shaping the sector and discover why now is a pivotal moment for Korea’s travel market.



Inbound Tourism: Visitor Numbers Surge, Revenue Lags

  • Visitor Recovery Nears Pre-Pandemic Levels
    • Over 16.3 million foreign tourists visited Korea in 2024, reaching 93.5% of the 2019 record and rising 48.4% from the previous year.
    • Asian travelers made up nearly 79% of all visitors, though full recovery from this region remains just out of reach.
  • Diverse Growth Across Regions
    • Arrivals from the Americas, Europe, Africa, and Oceania exceeded 2019 levels, while the Middle East saw a minor dip.
  • Tourism Revenue Stagnates
    • Despite the influx of visitors, tourism income reached only $16.45 billion-just 80% of the 2019 figure.

Visitors are Flooding into Korea—But Where’s the Money?


Outbound Travel: Koreans Travel Abroad in Record Numbers

  • Outbound Travel Fully Rebounds
    • Nearly 28.7 million Koreans traveled overseas, almost matching the 2019 peak.
    • Destinations like Japan, Vietnam, and Indonesia saw significant increases in Korean visitors, while travel to Singapore, Hong Kong, and Macau remained below pre-pandemic levels.

  • Spending Abroad Climbs
    • Overseas travel expenditure hit $26.49 billion, a 6.1% rise from 2023.
    • However, outbound spending is outpacing inbound tourism revenue, widening Korea’s tourism deficit to over $10 billion in 2024.

Travel Recovered, But Tourism Revenue Didn’t. What’s Going On?




Global Context: Korea Lags Behind Rapid Global Recovery

  • Global Tourism Surges Past 2019
    • Worldwide, international arrivals and tourism revenues have not only recovered but surpassed pre-pandemic records.
    • Korea’s inbound tourism recovery, however, trails the global trend, highlighting the need for innovative strategies.



What are the key factors that holding back revenue?

What innovative strategies can Korea adopt to attract more diverse international visitors and close the gap with global tourism leaders?


Want to dive deeper into the numbers and strategic insights?

Visit our official website for the full report and expert analysis on Korea’s evolving tourism landscape.

Yanolja Research Brief Vol.5

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Location: Seoul, South Korea

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