A new variant of COVID-19, Omicron, emerged in South Korea towards the end of 2021. In early 2022, the number of confirmed cases was at its highest.
Demand for travel plummeted following the emergence of the pandemic as governments introduced a raft of measures and restrictions to control the spread of the virus, including border closures. As a result, airlines were significantly impacted.
For several years, the concept of staycations or "hocance" has been the main trend in South Korea. However, during the pandemic, hotels were subject to strict social distancing rules with limitations on the number of days open, number of guests, and usage of public utilities.
Airlines and travel intermediaries were particularly impacted by the pandemic in South Korea. The performance of travel intermediaries was closely aligned with the government's restrictions and the fast-changing trajectory of COVID-19.
South Koreans' willingness to resume their travel plans has notably increased over 2022, with the demand for outbound travel surging once restrictions in the country were eased on 1 April. This has positively impacted all aspects of the industry, from the number of passengers on airlines to reservation rates via online travel intermediaries.
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Travel
Travel encompasses several categories including tourism flows, lodging, travel modes, in-destination spending and booking.
See All of Our DefinitionsThis report originates from Passport, our Travel research and analysis database.
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