"Only Two Days Due to Expensive Flights and Hotels"... Summer Vacations Hit Hard by High Exchange Rates and Inflation

PMI "2026 Summer Vacation Survey"

45.7% of respondents say "vacation costs are burdensome"

Rising accommodation rates top financial concerns

74% plan domestic trips such as to Gangwon Province

With the KRW-USD exchange rate exceeding 1,500 won and inflation remaining high, people planning their summer vacations this year are increasingly considering shorter trips to nearby destinations. As the costs associated with accommodations and airfare rise, vacationers are shortening the duration of their holidays in an attempt to reduce the financial burden.

The departure hall of Incheon International Airport Terminal 1 is bustling with crowds heading overseas for travel. Photo by Jo Yongjun

According to industry sources on July 4, research firm PMI recently conducted a "2026 Summer Vacation Survey" of 1,000 adults aged 19 to 59 nationwide. The results showed that 42.2% of respondents are considering a short vacation of just 1 to 2 nights, the highest proportion among all responses. This was followed by 3 to 4 nights at 39.1%, and only 8.9% said they planned to travel for 5 nights or more. Compared to last year, the proportion of those choosing "1 to 2 nights" increased by 4.1 percentage points, while those opting for "5 nights or more" decreased by 4.7 percentage points.

As for summer vacation destinations, 74.2% of respondents said they are planning to travel domestically. This figure is more than double the combined share of those planning short-haul trips overseas such as to Japan or Southeast Asia (20.8%) and those planning long-haul trips to regions like Europe or the Americas (2.8%). This is the result of continued high exchange rates—the highest since the financial crisis—and rising prices for accommodations and food. In fact, 45.7% of respondents said that the cost of this year's summer vacation felt "burdensome," 41.3% said it was "average," and 13.0% said it was "not burdensome."

The main reason for the financial burden was "increased peak season accommodation rates," cited by 53.4% of respondents. This was followed by "decreased personal income and economic uncertainty" (19.7%), "sharp rise in airfare due to increased fuel surcharges" (16.2%), and "rise in the KRW-USD exchange rate" (9.4%). Additionally, 66.3% said that this year's increase in airline fuel surcharges affected their summer vacation plans.

Among domestic travel destinations, Gangwon Province was the most preferred, with 33% of respondents selecting it. When choosing a vacation spot, 51.1% cited "an environment suitable for rest and relaxation" as their criteria, followed by "accessibility and ease of transportation" (46.8%) and "cost-effectiveness" (46.2%). Considering these factors, Gangwon Province—with its well-equipped mountains and beaches, resorts, and convenient transportation by public transit or private car—was seen as the best value-for-money destination. Other popular choices included Jeju Island (18.9%), Busan (9.0%), Seoul (5.9%), Yeosu (5.0%), Tongyeong (4.0%), Gyeongju (3.8%), and Jeonju (2.0%).

Regarding the timing of planned vacations, the peak period of "late July to early August" was most popular at 35.9%, followed by "mid to late August" (21.5%), "early to mid-July" (21.3%), and "late vacations after September" (10.5%).

A PMI official said, "Despite the burden of high inflation and travel costs, consumers are responding by adjusting their travel style and destination rather than giving up on vacation altogether. For this year's summer holiday, the main trend is 'close and relaxing trips' rather than 'long-distance travel.'"

This content was produced with the assistance of AI translation services.