South Korea’s tourism industry had a banner year in 2024. Foreign visitors spent more money than ever before, pouring 9.26 trillion won ($6.39 billion) into the local economy — a 33.8 percent increase from the previous year. The number of international arrivals also surged, reaching 16.37 million, nearly matching pre-pandemic levels.
Yet, despite this boom, South Korea’s long-standing travel deficit is expected to widen, as outbound Korean travelers considerably outnumber inbound tourists.
Shopping remains the biggest draw for foreign tourists, accounting for 37.8 percent of their…
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