High Inflation Drives Home Shopping Packages to Japan

Home Shopping November Family Travel Demand Absorption Travel Broadcasts Up
Consultations for Japan Travel Broadcasts This Month Exceed 3,000 Cases

More and more people are looking to enjoy winter family trips in Japan.

According to Lotte Home Shopping on the 29th, the number of consultation reservations for Chamjoeun Travel's Osaka and Kyushu packages, conducted over 60 minutes on the 26th, surpassed 4,000. The consultation reservations for Okinawa and Hokkaido, broadcast on the 4th, also recorded 4,000 and 3,500 respectively. Home shopping channels usually increase broadcasts of travel package products in November to capture demand for family trips after the college entrance exam and winter family vacations. Recently, broadcasts of travel packages to Australia, Europe, Japan, and Southeast Asia have been continuous, with demand for Japan travel exploding among them. Compared to the same period last year, it has grown by 30%.

GS Home Shopping also consecutively broadcast Okinawa and Hokkaido products on the 25th, recording 2,300 and 3,000 reservations respectively, receiving about 5,000 consultation reservation applications in one day. An industry insider from home shopping said, "The economic situation is not good, so the travel market is not in great shape," adding, "Usually, for nearby destinations like Japan, if consultation reservations reach around 2,500 to 3,000, the broadcast is considered successful, but recently it has exceeded that."

It is interpreted that Japan has rapidly emerged as a popular travel destination as rising prices make it difficult to spend a lot of money on travel. Japanese travel packages are priced from 690,000 KRW (lowest price) to 1,300,000 KRW (Hokkaido). Compared to Australia (2,600,000 KRW) and Europe such as Spain & Portugal (2,000,000 KRW), the price is about half. Moreover, with the continued yen depreciation, travelers can reduce costs further considering the exchange rate benefits. The KRW/JPY exchange rate is currently around 870 KRW per 100 yen, which is 100 KRW cheaper than a year ago (960 KRW per 100 yen).