Korean travelers are sharply tightening their summer vacation budgets this year, slashing spending on flights and accommodations while hunting for the cheapest departure days and dates in a clear shift toward "value-focused" travel.
According to global travel search engine Skyscanner on Tuesday, a survey of 1,000 Korean travelers found that seven out of 10 respondents (68%) have already booked their summer vacation or are actively searching for one.
The biggest change is in cost. Average planned per-person spending for overseas summer travel came in at 431,739 won for airfare and 267,919 won per night for accommodations. Compared with last summer, airfare dropped 15% and lodging costs fell 22%.
Some 59% of respondents said they would flexibly adjust their travel schedules to secure reasonable costs. Rather than choosing destinations based on fixed dates, travelers are now searching for cheaper dates first.
◇ Best-Value Week Is June 29; Wednesday Is Cheapest Day
The survey found that Wednesday was the cheapest day of the week to fly during this summer vacation period. The most cost-effective week of the year was the week of June 29.
With wallets thinner, actual popular destinations skewed toward cost-efficient short-haul routes. Asian cities including those in Japan, Vietnam and China dominated the top 10 summer destinations chosen by Koreans.
The cheapest round-trip airfare was to Fukuoka, Japan, at an average of 236,337 won. Osaka came in at a similar 239,718 won. The most popular destination overall was Nha Trang, Vietnam, with an average round-trip fare of 460,109 won. Shanghai, China, was priced at 286,037 won.
Cost savings on these popular Asian routes were greatest when departing on Tuesday of the week of August 31, just outside the July-August peak season.
Long-haul routes showed varying low-price timing by region. Sydney, Australia, was cheapest with a Wednesday departure in the week of June 29, while Paris, France, was cheapest with a Monday departure in the week of August 10. The lowest round-trip fare to Paris was around 1,543,232 won.
◇ Fuel Surcharges Drop in June; 10 Hidden Value Destinations
Airfare burdens are expected to ease somewhat starting in June. With international oil prices stabilizing, the international fuel surcharge tier will fall six steps to Level 27 from the current Level 33. International fuel surcharges are set based on the average price of Singapore jet fuel from the 16th of two months prior to the 15th of the previous month.
Accordingly, Korean Air's June international fuel surcharge has been set at 61,500 to 451,500 won one-way. Compared with May's range of 75,000 to 564,000 won, fares will fall by at least 13,500 won and up to 112,500 won depending on the route.
Skyscanner also recommended "10 hidden value summer vacation destinations." The list includes Omitama in Japan, Yogyakarta in Indonesia, Malaga in Spain, Ottawa in Canada, Basel in Switzerland, Lyon in France, Johor Bahru in Malaysia, Wroclaw in Poland, Zhengzhou in China and Cairns in Australia.
"Korean travelers are actively planning their summer vacations this year, but we believe they have various concerns across multiple aspects, including cost, schedule and destination choice," said Jessica Min, a travel expert at Skyscanner.
