You are using an outdated browser. Please upgrade your browser to improve your experience and security.

Skip to main content

$28 Million

Total expenditure in Alberta (2023)

30 Million

Passport holders (2023)

2.2 Million

Potential market size

3 days

Average length of stay in Alberta (2023)

Overview

Outbound travel from South Korea continued to grow in 2024, estimated at 90% of 2019 levels, up from 74% in 2023. Outbound travel is expected to fully recover to 2019 levels by 2025. Oxford Economics' lower-than-consensus 2025 GDP growth forecast for South Korea hinges on stretched private sector balance sheets remaining a
drag on domestic demand, with inflation likely undershooting the target until mid-2025.

On this page:

Competitor Comparison
Air Travel
Economic Indicators
Traveller Characteristics

Man standing beside his snowmobile

Competitor Comparison

Indicator Quebec Ontario Alberta BC Canada
Expenditure (2023) $24 Million $115 Million $28 Million $103 Million $284 Million
Share of total national expenditure (2023) 9% 41% 10% 36% -
Visitation (2019) 28 Thousand 101 Thousand 52 Thousand 149 Thousand 341 Thousand
Share of total national visitation (2019) 8% 30% 15% 44% -
Expenditure (2019) $23 Million $114 Million $59 Million $244 Million $462 Million
Share of total national expenditure (2019) 5% 25% 13% 53% -
Average Spend (2019) $816 $1,133 $1,135 $1,637 $1,355

*Visitation and average spend estimates are not available for South Korea for the 2022 calendar year. 

Air Travel

Economic Indicators

Indicator 2023 2024 Estimated 2025 Forecast
GDP - per capita $35,538 $36,566 $40,603
GDP - YoY Growth Rate 2.2% 2.8% 10.9%
Exchange Rate (CAD/KRW) (annual average) $0.001 N/A N/A
Unemployment Rate (annual average) 2.7% 2.8% 2.8%
Inflation Rate (annual average) 3.6% 2.5% 2%

Quarterly traveller spend

Traveller Characteristics

Breakdown of traveller spending

Top barriers to travel
Economic environment 69%
Higher transport and accommodation costs 55%
Extreme weather events 28%
Geopolitical conflicts 24%
Staff shortages 22%
Other 14%

Top 5 trip anchors
Northern lights 52%
Natural attractions like mountains or waterfalls 47%
Nature parks 46%
Hiking or walking in nature 44%
Viewing wildlife or marine life 40%
Purpose of visit