Published 23 May.2021 09:12(KST)
[Asia Economy Reporter Park Jihwan] There are signs that some airlines and major travel agencies are preparing charter flights departing in September, leading to an analysis that the number of outbound travelers for overseas trips is expected to increase significantly from September.
On the 23rd, Sung Junwon, a researcher at Shinhan Financial Investment, stated, "Since the initial vaccine recipients are mostly elderly, business travelers, and special occupational groups, the actual proportion that translates into travel demand may be low."
However, assuming that about 5.5 million people, roughly 10% of the total population, will have completed their second vaccination by September, it is highly likely that the number of outbound travelers will gradually increase. The number of outbound travelers was 73,000 in March, but is estimated to increase to 80,000 in April, 85,000 in May, 89,000 in June, 92,000 in July, 93,000 in August, 132,000 in September, 187,000 in October, 274,000 in November, and 357,000 in December.
Researcher Sung said, "Some airlines and major travel agencies are preparing charter flights departing in September," adding, "In the early recovery phase, demand is high but the number of accessible departure regions is limited, so air travel demand may concentrate, making charter flights essential."
It is explained that during the recovery period of outbound travelers, large travel agencies like Hana Tour, which can secure many airline tickets, are expected to benefit. Additionally, as the number of outbound travelers increases, domestic internet duty-free sales at large duty-free shops are predicted to rise.
Researcher Sung forecasted, "Currently, sales are rapidly increasing thanks to peddlers, but since internet duty-free shops have high profit margins, this will practically help improve the performance of duty-free shops like Hotel Shilla."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.