"Despite High Exchange Rates, Overseas Travel Packages Remain Popular"

Lotte Tour Development Sells Out Miyazaki Charter Flights
11st Sees 4x Increase in Overseas Air Ticket Transactions

Takachiho Gorge. (Photo by Lotte Tour Development)

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

According to Lotte Tour Development on the 1st, all 436 seats of the Miyazaki exclusive charter flight travel package were sold out within a month. This is the first time since COVID-19 that an exclusive charter flight package has been completely sold out.

The sold package departs from Incheon to Miyazaki twice (November 13 and 16) via Air Busan, timed with Japan's autumn foliage season, offering diverse travel courses including nature sightseeing and golf tours. As a special benefit from Lotte Tour Development, guests receive accommodation at the Sheraton Hotel with a first-come, first-served deluxe room upgrade, and a Sheraton dinner buffet (once per stay) prepared with local premium ingredients such as regional specialty beef and fresh seafood.

On 11st, overseas flight ticket transaction amounts increased more than fourfold (330%) compared to the previous year from August 31 to the 20th of last month. Compared to the domestic flight ticket transaction growth rate (104%) during the same period, this is more than three times higher. Overseas hotel transaction amounts rose more than twelvefold (1102%), and overseas travel package transactions jumped over elevenfold (1083%).

By age group, the proportion of the 20s and 30s in 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 among younger generations have increased.

A 11st official stated, “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, “We plan to offer a variety of popular overseas travel products.”