Reported about 1 year ago
On June 25, 2024, US Newsweek Japan published an article titled 'Korean Tourism Industry Worries Why Chinese Tourists Are Not Coming Back,' stating that Chinese tourists have not met South Korea's expectations in the past year. Meanwhile, due to the depreciation of the yen, Japan has become the preferred destination for Chinese tourists. Various reasons were analyzed for the decreased Chinese visitors to South Korea, including internal demand stimulus measures in China, decreased demand for 'daigou' products, and the yen depreciation favoring Japan. Moreover, tensions in US-China relations, Korean companies relocating production bases to Vietnam, and reduced business travel demand were mentioned as factors affecting tourism. At the same time, Korean imports from China have seen significant growth. The article also highlighted the impact of yen depreciation on Korean travelers to China, with many opting to shop Chinese goods online and travel to Japan instead.
Source: YAHOO