The Peak of Summer Vacation is the First Week of August... "Vacation Cost 400,000 Won per Person"

PMI Surveys Summer Vacation Plans of 3,000 Adults
Vacation Costs Most Commonly Between 200,000 and 400,000 Won
2 Nights 3 Days Tops Travel Duration

The peak season for summer vacations this year is expected to be the first week of August. The amount spent by vacationers is likely to be around 400,000 KRW per person.

During the summer vacation season, vacationers are cooling off at Haeundae Beach in Busan. [Image source=Yonhap News]

According to a survey conducted on the 29th by data consulting company PMI, targeting 3,000 men and women nationwide aged 20 to 69, 22.8% responded that they plan to take their summer vacation in the first week of August, ranking first. This was followed by the fourth week of July at 15.4%, the second week of August at 9.7%, the third week of July at 9.3%, the second week of July at 8.2%, and the third week of August at 7.7%. The proportion planning their summer vacation after September, avoiding the peak season, was 4.7%.

The most common duration for summer vacation trips was 2 nights and 3 days at 33.9%. This was followed by 3 nights and 4 days at 25.2%, 1 night and 2 days at 20.3%, 4 nights and 5 days at 9.8%, 6 nights and 7 days or more at 5.3%, and 5 nights and 6 days at 3.8%. One-day trips accounted for 1.7%.

Among the survey respondents, 56.2% said they have travel plans for their summer vacation. This is more than double compared to the same survey last year, where only 27.0% of respondents had summer vacation plans.

The amount respondents expect to spend on their summer vacation this year was highest at 22.1% for 200,000 to 400,000 KRW per person. The 400,000 to 600,000 KRW range was close behind at 22.0%, indicating many will spend around 400,000 KRW. Respondents planning to spend over 1,000,000 KRW also accounted for a relatively high proportion at 20.3%. Other amounts included 600,000 to 800,000 KRW at 14.0%, 800,000 to 1,000,000 KRW at 12.5%, and less than 200,000 KRW at 9.1%. In last year’s survey, the highest proportion (25%) chose 400,000 to 600,000 KRW as their expected summer vacation cost per person.

Data provided by PMI

Meanwhile, among those who do not have summer vacation plans or have not decided yet, 33.4% cited 'difficulty in scheduling' as the main reason. This was followed by financial constraints (29.8%), difficulty in planning and preparation (16.8%), and personal reasons such as health issues (12.1%). Pet care issues were also reported by 5.4%.

For those not taking a vacation, the highest proportion planned to watch TV at home or binge-watch online video services (OTT). Other responses included exercising, reading, studying for self-development, exploring restaurants, and shopping. Some also mentioned preparing for a job change.

A PMI official explained, "Compared to last year, the proportion of people planning to travel during summer vacation has significantly increased, but the survey results confirmed a trend toward relatively short vacations of 2 nights and 3 days and consideration of cost-effectiveness (value for money). This reflects a growing trend of consumers seeking reasonable summer vacations that fit their personal circumstances in terms of cost and schedule in this era of high inflation."

Meanwhile, this survey was conducted online from the 14th to the 18th, with a sampling error of ±1.79 percentage points at a 95% confidence level.