Pandemic discourages S. Koreans from spending on overseas trips
SEOUL, AJU - A coronavirus pandemic has discouraged South Koreans from spending on trips to domestic tourist spots and other countries, and there will be no change in dampened consumer sentiment for months to come, a survey showed.
In a weekly survey of 500 people, conducted by travel market research firm Consumer Insight, 59 percent said that they would cut down on expenses on traveling abroad in the next 12 months. Only 17 percent said that they would spend more on travel.
The survey found that 38 percent would reduce expenses on domestic traveling in the next 12 months, marking the lowest ever since the weekly survey began in 2017, while 27 percent was willing to spend more on traveling in South Korea.
The research firm said that the survey showed the tourism industry's critical situation in the officing.