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Hedonic Motivations in Overseas Destination Choice To examine the structure of hedonic motivations underlying Korean travelers’ overseas destination choices, a principal component analysis (PCA) was conducted using four key variables: availability of attractions, local cuisine, shopping opportunities, and availability of activity programs. The first two principal components explain approximately 86.3% of the total variance, indicating […]

This article analyzes travel consumption patterns using microdata from the third quarter (July~September 2025) of the Japan national tourism survey released by the Japan Tourism Agency under the Ministry of Land, Infrastructure, Transport and Tourism. The principal component analysis (PCA) summarizes the joint variation in three expenditure-based travel purposes, leisure travel, visiting friends and relatives

The principal component analysis (PCA) based on quarterly Japanese outbound travel micro-aggregation for July~September 2025 reveals a strongly structured two-dimensional behavioral space that captures the dominant heterogeneity in travel purpose, companionship, duration, and booking modality. The first principal component (PC1) explains 79.3% of the total variance, while the second component (PC2) accounts for an additional

The principal component analysis based on Japanese outbound travel data for the third quarter of 2025 (July~September) reveals a clear two-dimensional structure explaining 81.6% of the total variance (PC1 = 58.0%, PC2 = 23.6%), indicating that heterogeneous travel behavior across demographic groups, residential regions, and destination markets during this period can be summarized by a

Outbound travel from Korea, Japan, and Taiwan strengthened in 2025, with Japan and Taiwan recording double-digit annual growth while Korea posted a more moderate expansion. The data suggest a continued normalization of regional travel demand alongside improving household confidence and currency-related travel incentives. Korea remained the largest outbound market in absolute terms, sending 29.6 million

A recent review of the KRW-based Nominal Bilateral Exchange Rate Index (2023=100) suggests that overseas travel has become broadly more expensive for Korean tourists since early 2025, reflecting the weakening of the Korean won against several major destination currencies. Because an increase in the index indicates a depreciation of the won and therefore higher travel costs abroad,

The figure presents the JPY-based nominal bilateral exchange rate index for major outbound tourism destinations of Japanese travelers, constructed with 2023 as the base year (2023 average = 100). Index values above 100 indicate a relative depreciation of the yen against destination currencies and therefore a deterioration in tourism price competitiveness from the perspective of Japanese outbound demand, whereas values at or

Japan’s outbound tourism market continued its recovery throughout 2024, supported by steady growth in both traveler volumes and travel-related spending. Monthly indicators show that Japanese residents are increasingly traveling overseas, while Travel Expenditure per Traveler (TEPT) – defined as the average amount of overseas travel expenditure incurred by an outbound traveler – has strengthened markedly,

Monthly trends in Korean outbound tourism spending from January 2024 to October 2025 reveal clear seasonal patterns alongside a strong post-pandemic recovery in the tourism economy. This analysis focuses on Travel Expenditure per Traveler (TEPT), defined as the average amount of overseas travel expenditure incurred by an outbound traveler, which serves as a key indicator

The chart below presents key movements in the Korean won (KRW) exchange rate against major global currencies from 2022 to 2025, offering essential insight into how currency trends have influenced Korea’s outbound tourism market. During this period, the KRW depreciated against most major currencies, including the USD, EUR, SGD, and THB – an environment that