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$28 Million

Total expenditure in Alberta (2023)

30 Million

Passport holders (2023)

3 days

Average length of stay in Alberta (2023)

2.2 Million

Potential market size

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