Despite High Exchange Rates, Overseas Travel 'Popular'... 11st Sees 4x Increase in Transaction Volume

Transaction Share of 2030 Generation Increases from 17% to 41%

11st will hold a travel discount promotion, '2022 Travel Fair,' until the 30th.

[Asia Economy Reporter Lim Chun-han] Despite high exchange rates and inflation recently, demand for overseas travel appears to be continuing.

According to 11st, from the 31st of last month to the 20th of this month, overseas flight ticket transaction amounts increased more than 4 times (330%) compared to the previous year. Compared to the domestic flight ticket transaction increase rate (104%) during the same period, this is more than three times higher. Overseas hotel transaction amounts rose more than 12 times (1102%), and overseas travel packages increased more than 11 times (1083%).

By age group, the proportion of the 20s and 30s among total transaction amounts rose significantly from 17% last year to 41% this year. During the COVID-19 pandemic, business travelers in their 40s and 50s mainly purchased flight tickets, but this year, as overseas travel has become relatively freer, transactions by younger people have increased.

11st is holding a travel discount promotion called ‘2022 Travel Fair’ until the 30th, offering popular domestic and international travel products at special prices. A maximum 15% discount by category is applied by default, and various additional benefits such as credit card discount coupons and exclusive discount coupons for Woojoo Pass subscribers are provided.

An official from 11st said, “Despite the sharp rise in exchange rates, the surge in overseas travel demand due to the decline in COVID-19 cases is not expected to subside easily,” adding, “With growing expectations for Japan’s visa-free entry and allowance of individual travel, we plan to offer a variety of popular overseas travel products preferred by customers.”