In Seoul’s vibrant heartbeat, tourists are redefining their spending patterns, gravitating towards immersive experiences in trendy districts as they leave commercial areas behind. This shift reflects a burgeoning trend in tourism: experiential travel.
The Rise of Experiential Tourism in Seoul
As the COVID-19 pandemic fades into history, tourists in Seoul are embracing a new era of exploration. BC Card’s analysis of credit card transactions by tourists in Korea reveals a significant increase in revenues from foreign visitors in areas offering cafes and instant photo services. This shift indicates a growing preference for experiences over material purchases.
Trendy Districts Attract Tourists with Unique Experiences
Seongsu-dong in eastern Seoul, renowned for its cafes and photo booths, has experienced a staggering 973% increase in credit card transactions by tourists last year compared to 2019. Yeouido-dong and Hannam-dong have also seen substantial increases, thanks to their vibrant nightlife, entertainment options, and famous landmarks.
Yeouido-dong has particularly benefited from the presence of the Hyundai department store and nearby hotels, contributing to the area’s growing appeal.
Shopping Sectors Give Way to Experience-Focused Industries
While sales in department stores and duty-free shops in central Seoul have decreased, those in Yeongdeungpo District have seen a rise. This shift demonstrates the evolving priorities of tourists, who now seek memorable experiences over traditional shopping sprees.
In 2019, the proportion of shopping sectors accounted for 79% of tourist spending; by 2023, this figure had dropped to 58%. Conversely, revenues from experience-focused industries increased from approximately 1% in 2019 to around 7% in 2023.
Card transactions during evening and late-night hours have also surged, indicating that tourists are prioritizing pleasure-seeking experiences. October has emerged as the most favored period for visits to Korea among tourists.
As Seoul continues to evolve, the city’s tourism landscape adapts to the changing preferences of travelers. With its delicious cuisine, entertainment options, and a mix of famous landmarks and ancient temples, Seoul offers an enticing blend of modernity and tradition. The shift towards experiential travel reflects a deeper connection between tourists and the city, fostering a new era of cultural exchange and understanding.
