Despite COVID-19 Vaccine Hopes... "Overseas Travel Possible Only After 2 Years"

Consumer Insight Survey on Changes in Travel Sentiment Due to COVID-19
About 80% of Respondents Expect "Overseas Travel to Be Difficult Within a Year"

Citizens visiting the observation deck of Incheon International Airport are watching the aircraft stopped at the airport. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Kim Heung-soon] Despite news that the development of vaccines and treatments for the novel coronavirus infection (COVID-19) is accelerating, the expectation among our citizens for the resumption of overseas travel remains low.

According to Consumer Insight, a public opinion research firm, on the 26th, a recent survey on 'Travel and COVID-19' conducted with 13,056 citizens showed that 39.4% of respondents anticipated that overseas travel would become possible again within the next 1 to 2 years. A similar proportion, 37.9%, expected it to take more than 2 years. As a result, about 8 out of 10 respondents (77.3%) foresee that it will take more than a year before overseas travel resumes.

On the other hand, only 22.7% predicted that overseas travel would be possible within a year. Although recent news about multinational pharmaceutical companies developing COVID-19 vaccines and the disclosure of treatment efficacy results domestically and internationally have been reported, the prevailing view is that it will not be easy for these vaccines and treatments to be commercialized in the short term and for overseas travel to become as free as before.

Source=Consumer Insight

43.6% of respondents expected COVID-19 vaccines to be commercialized within a year, but a significant proportion also anticipated commercialization within 1 to 2 years (38.1%) or more than 2 years (18.3%), indicating considerable uncertainty. Respondents generally believed that overseas travel would only be possible after vaccines are commercialized and the domestic COVID-19 situation is resolved. The highest proportion (38.7%) expected the domestic COVID-19 situation to end within 1 to 2 years.

The survey also found that 41% of respondents felt a stronger desire to travel abroad compared to before the COVID-19 outbreak, while 33% said their desire had decreased. The firm noted, "While some groups' pent-up demand for overseas travel may manifest as compensatory travel consumption, there is also a possibility that avoidance or abandonment of overseas travel will increase."