"Today is the Cheapest"... Despite Soaring Jeju Travel Costs, Luxury Hotels Are Fully Booked

On the 17th, ahead of the summer vacation season, the domestic terminal at Gimpo Airport in Gangseo-gu, Seoul, is bustling with travelers. Photo by Asia Economy

[Asia Economy Intern Reporter Kim Se-eun] Travel expenses to Jeju are soaring ahead of the summer vacation season.

Due to lingering concerns about COVID-19 and global inflation, many who feel burdened by overseas travel have chosen Jeju Island as an alternative. As a result, demand for travel to Jeju has surged, causing prices for major facilities to rise as well.

According to the flight search app Skyscanner, round-trip airfare to Jeju during the peak "golden vacation season" from the last weekend of July to the first week of August is priced at a minimum of 230,000 KRW (searched at 1 PM on the 19th, based on round-trip tickets for August 1 and 5).

This is about twice as high as the round-trip ticket prices from June 27 to July 1, the first week of July, which start in the mid-110,000 KRW range.

Hotel prices show a similar trend. According to the accommodation platform "Yanolja," staying at the Grand Hyatt Jeju, a 5-star hotel in the Jeju area during the vacation season, costs about 620,000 KRW per night (searched at 1 PM on the 19th, based on a King Room City View for August 1-2). This is approximately 200,000 KRW more expensive than the price for the same days of the week, June 27-28, which is in the low 400,000 KRW range.

As the peak travel season approaches, ticket and accommodation prices are expected to continue soaring, creating an atmosphere of "booking as early as possible while prices are still low."

Many have also chosen to visit Jeju in advance to avoid the vacation rush.

According to the Jeju Tourism Association, as of May 20, the number of domestic tourists to Jeju reached 5,029,872, breaking the 5 million mark in the shortest period ever. Jeju’s luxury hotels reportedly had an 80-90% occupancy rate on weekends in June.