"Record Number of Foreign Tourists Visit Korea"... Tourism Balance Turns to Surplus in March for First Time in 11 Years

Yanolja Research Tourism Performance Analysis

4.74 Million Foreign Tourists Visited Korea in Q1, Up 23% From 2019

Total Tourism Revenue Reaches 8.72 Trillion Won

In the first quarter of this year, the number of foreign tourists visiting Korea surpassed 4.74 million, marking the highest quarterly figure ever recorded. While the influx of foreign tourists continued, outbound travel by Korean nationals slowed in March, resulting in a monthly tourism balance surplus for the first time in over 11 years.

Tourists visiting Gyeongbokgung Palace in Seoul. Photo by Yonhap News

According to the "Analysis of Korea’s Inbound and Outbound Tourism Performance in Q1 2026" report released by Yanolja Research on May 14, the number of foreign tourists visiting Korea in the first quarter of this year reached 4,743,000. This represents an increase of 22.6% compared to the same period last year and a 23.4% rise compared to the first quarter of 2019, prior to the COVID-19 pandemic.

By country, Chinese tourists accounted for the largest share, with 1,424,000 visitors. There was also a significant increase in arrivals through regional airports. In the first quarter of this year, the number of people entering through regional airports reached 850,000, a 40.1% increase compared to 2019. This growth rate is more than double that of airports in the Seoul metropolitan area (19.0%).

Boosted by the increase in tourist arrivals, total tourism revenue in the first quarter of this year reached $5.84 billion (approximately 871.67 billion won), a 17.8% increase compared to the same period in 2019. However, the average expenditure per foreign tourist was $1,231 (about 1.83 million won), which is lower than the 2019 figure of $1,290.

The report cited a decrease in duty-free shop consumption as a major factor. The number of duty-free shop users decreased from 4.47 million in 2019 to 2.94 million this year, and the average sales per user also dropped from $914 (about 1.36 million won) to $544 (about 810,000 won).

Record-High 8.33 Million Outbound Koreans; Decline in March Leads to Tourism Surplus

The number of Korean nationals traveling abroad also hit a record high in the first quarter of this year, reaching 8,331,000. This is a 5.9% increase compared to the first quarter of 2019.

However, the growth rate showed a gradual slowdown. The monthly growth rate dropped from 12.2% in January to 5.8% in February, and in March, it turned negative with a 1.7% decrease compared to the same month last year. The report analyzed that the prolonged Middle East war leading to higher international oil prices and airfares, as well as persistently high exchange rates, dampened the willingness to travel abroad.

Although outbound travel demand among Korean nationals declined, the continued increase in foreign tourists resulted in a tourism surplus of $260 million (about 387.9 billion won) in March. This is the first monthly tourism surplus in 11 years and 4 months.

While the monthly balance turned positive, the total tourism balance for the first quarter remained in deficit at $2.24 billion (about 3.34 trillion won). However, the deficit is gradually improving compared to a $3.62 billion (about 5.40 trillion won) deficit in the first quarter of 2024 and $3.42 billion (about 5.10 trillion won) in the first quarter of 2025.

The average expenditure per outbound Korean traveler in the first quarter of this year was $969 (about 1.44 million won), up from $914 (about 1.36 million won) in 2019. Total tourism expenditure for the first quarter was $8.08 billion (about 12.06 trillion won).

This content was produced with the assistance of AI translation services.