South Korea's May Tourism Surplus

South Korea achieved a tourism surplus of $220.5 million in May 2026, for the third consecutive month, driven by an increase in the number of international tourists and a significant improvement in tourism revenues compared to a deficit of $820.2 million in the same month of the previous year. This increase is attributed to a 19.4% rise in foreign visitors and tourism revenues reaching $2.58 billion, while Koreans' spending on outbound travel decreased to $2.36 billion, resulting in the surplus. The recovery is attributed to the growing popularity of the Korean Wave (Hallyu) and the depreciation of the won, which boosted tourism appeal. Additionally, the decline in airline ticket prices due to the Middle East conflict contributed to reduced outbound travel by Koreans, further supporting tourism revenues.

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