A stronger yen could curb Korean arrivals in Japan
Tourism professionals point out that the influx of Korean tourists may grind to a halt
As Japan continues to battle with overtourism, it may soon see a significant reduction in the number of Korean arrivals into the country.
Financial experts point out that the yen has gained strength over the past several months, and that this could put the brakes on South Korea’s penchant for Japanese vacations.
A weaker yen and a greater demand following the pandemic era were the prime factors that sent Korean travellers into the neighbouring country in massive droves.
The Korea Tourism Organization (KTO) reported that 8.82 million out of 28.69 million outbound Korean travelers visited Japan in 2024.
This is 26.7 percent higher than the total reported in 2023, and exceeds the number of travellers heading to China, Hong Kong, Taiwan, and the United States.
An unexpected benefit
While lower numbers of Korean arrivals may help mitigate overtourism in Japan, there is a second country that stands to benefit: South Korea itself.
A stronger yen could prompt Korean travellers to consider exploring their own homeland and, in turn, boost domestic tourism in the country.
Experts point out that this could significantly decrease South Korea’s travel deficit which has been in the red for over a quarter of a century.
Indeed, the country’s travel balance showed a shortfall of US$12.5 billion in the past year.
