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$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

Note: 2023 Q4 (Oct - Dec) data is not available.

Traveller Characteristics

Top barriers to travel
High Transportation and Accommodation Costs 65%
Economic Environment 61%
Staff Shortages 27%
Extreme Weather Events 26%
Airport Congestion, Flight Delays and Cancellations 21%

Top 5 trip anchors
Nature walks 45%
Natural attractions (e.g. scenic viewpoints, mountains, waterfalls) 44%
Trying local food and drink 43%
Historical, archaeological or world heritage sites 29%
Northern lights 24%
Purpose of visit

Sources

Statistics Canada, Visitor Travel Survey Data 2023
Global Tourism Research Program (GTRP), Destination Canada 2023
Lodging Aligned Spend Reporting (LASR), Destination Canada, 2023
Oxford Economics
DIIO, Cirium
Bank of Canada
UNWTO: UN Tourism Barometer