'HyuPoJok' Continues While One Side Chooses 'Hokangseu'... Summer Vacation Polarization Amid High Inflation

Rising 'Hyupojok' Due to Travel Expense Burden
Others Enjoy Overseas Travel and Hotel Vacations
Busan Luxury Hotel Official: "Room Booking Rate 90%"

Gimpo Airport's domestic terminal is bustling with travelers. Photo by Moon Honam munonam@

[Asia Economy Reporter Heo Midam] # Baek Yujin (27, pseudonym), who lives in Bucheon, Gyeonggi Province, had planned to go on a summer vacation at the end of August but ended up staying home. She originally planned an overseas trip, but the increased airfare prices compared to before COVID-19 were burdensome. She said, "Airfares have risen so much, and I was worried because of COVID-19, so I had no choice but to give up on traveling abroad. I also considered a '3 nights 4 days in Jeju Island' itinerary, but it was more expensive than I thought, so I gave up on my vacation plans." She added, "Looking at SNS posts, quite a few acquaintances have already gone abroad or are enjoying 'Hokangseu (hotel + vacation)' at hotels. I feel bitter, wondering if I'm the only one saving money like this."

As this is the first summer vacation since the full lifting of social distancing, citizens are showing mixed reactions. While some are giving up on vacations such as travel due to increased costs amid high inflation, so-called 'Hyupojok' (vacation quitters) continue to emerge, others are still shouting 'YOLO (You Only Live Once, a neologism meaning to enjoy life to the fullest)' by booking luxury hotels costing tens of thousands of won.

Due to the recent soaring prices, more people are giving up on travel plans during the vacation season. According to the 'June Consumer Price Trends' released by Statistics Korea, domestic airfare rose by 19.5% and international airfare by 21.4% compared to the same month last year. Domestic group travel expenses increased by as much as 31.4%. This appears to be because service prices generally rose as demand for travel and tourism surged after the lifting of social distancing. Additionally, the high exchange rate exceeding 1,300 won per dollar is also holding back overseas travelers.

Gimpo Airport's domestic terminal is bustling with travelers. Photo by Moon Honam munonam@

As costs for airfare, accommodation, dining, and other vacation expenses increase, a new term combining vacation and inflation, 'Vacaflation,' has emerged.

Yoon Jaehyuk (25, pseudonym), a first-year office worker, also expressed economic burdens regarding vacation costs. He said, "With prices rising, traveling far is burdensome. This year, I plan to spend my vacation hiking with friends or watching movies at home."

Despite the surge in 'vacation quitters,' demand for overseas travel remains strong. Incheon International Airport Corporation announced that the predicted air travel demand from the 22nd of this month to the 10th of next month is 1.71 million passengers, a 791% increase compared to the same period last year (190,000). The average expected daily passengers during this period is about 85,000, with Sunday, August 7, expected to be the busiest day with 98,352 passengers.

Meanwhile, as COVID-19 shows signs of re-spreading worldwide, some people are choosing to enjoy 'Hokangseu' at premium hotels instead of traveling abroad. In particular, luxury hotels in Haeundae-gu, Busan, are difficult to find vacancies despite daily accommodation fees ranging from 500,000 to 1,000,000 won.

A representative of a luxury hotel in Haeundae-gu said, "The room reservation rate this month is about 90%. Other hotels are in a similar situation. While some travelers are going abroad, it seems that more people are feeling burdened due to COVID-19 and high prices and are turning back domestically to enjoy Hokangseu."