[Edaily Kang Gyeong-rok Travel Reporter] Although the number of foreign visitors to South Korea exceeded 2.09 million last July, the tourism balance returned to a deficit. While the number of foreign tourists increased, per-capita tourism revenue decreased by about 10% compared to the previous month. The increase in overseas travel and tourism spending by domestic travelers during the summer vacation season also played a significant role.
According to the Korea Tourism Data Lab of the Korea Tourism Organization on the 27th, the tourism balance recorded a deficit of $50.3 million (approximately 68.2 billion won) in July. This marks a deterioration of $646.9 million (approximately 876.7 billion won) from the $596.6 million (approximately 808.5 billion won) surplus recorded in June—a shift that occurred in just one month.
The streak of tourism account surpluses that had continued since March also came to an end after four months. The tourism balance had posted a surplus of $263.8 million (approximately 357.5 billion won) in March, followed by surpluses of $159.9 million (approximately 216.7 billion won) in April, $220.5 million (approximately 298.8 billion won) in May, and $596.6 million (approximately 808.5 billion won) in June.

The shift to a deficit in July resulted from a simultaneous decline in tourism revenue and an increase in tourism expenditure. Tourism revenue totaled $2,624.1 million (approximately 3.5563 trillion won), a decrease of $159.9 million (approximately 216.7 billion won) from the previous month’s $2,784.0 million (approximately 3.7727 trillion won). During the same period, tourism expenditures rose by $487 million (approximately 660 billion won), from $2.1874 billion (approximately 2.9642 trillion won) to $2.6744 billion (approximately 3.6245 trillion won).
In contrast, the number of foreign visitors to Korea increased. In July, 2,093,223 foreign visitors came to Korea, a 20.8% increase compared to the same month last year (1,733,199).
By country, China accounted for the largest number of visitors at 776,639. This was followed by Japan (330,385), Taiwan (260,532), the United States (150,449), and Hong Kong (76,237). Compared to the same month last year, the number of visitors from China increased by 29%, from Taiwan by 30.7%, and from Japan by 10.2%.
However, the rise in tourist numbers did not translate into higher tourism revenue. Per-visitor tourism revenue in July—calculated by dividing total tourism revenue by the number of visitors—was approximately $1,254 (about 1.7 million won). This represents a 10.3% decrease from June’s figure of approximately $1,397 (about 1.89 million won).
Overseas travel by South Korean citizens increased during the summer peak season. In July, the number of South Korean outbound tourists reached 2,419,457, a significant increase from the previous month. However, this figure represented a 0.7% decrease compared to the same month last year. Consequently, tourism spending rose by 22.3% compared to the previous month. Per-capita tourism spending by South Korean travelers abroad was approximately $1,105 (about 1.5 million won), a 1.3% increase from approximately $1,091 (about 1.48 million won) in June.
The gap in per-person spending between foreign and domestic tourists also narrowed. In June, per-person tourism revenue from foreign tourists exceeded per-person tourism spending by domestic tourists by approximately $306 (about 410,000 won). In July, this difference narrowed to approximately $149 (about 200,000 won).
However, it is difficult to conclude that this year’s trend of improvement in the tourism balance has been reversed simply because of the deficit in July. This is due to seasonal factors, as domestic residents’ overseas travel typically increases during the summer vacation season.
The cumulative tourism balance deficit for January through July of this year stands at $1.3122 billion (approximately 1.7782 trillion won). This represents a 78.4% reduction in the deficit compared to the $6.0824 billion (approximately 8.2422 trillion won) recorded during the same period last year. Looking at the period from March to July alone, the tourism balance showed a surplus of $1.1904 billion (approximately 1.6132 trillion won).
The recovery of the inbound tourism market is also continuing. From January through July of this year, the number of foreign visitors to Korea reached 12,803,042, a 21.3% increase compared to the same period last year.
The pace of future improvement in the tourism balance is expected to depend on the increase in the number of visitors to Korea and the extent to which tourism revenue per foreign visitor can be raised. Domestic tourism spending—including accommodation, food, shopping, medical services, and experiences—as well as the length of stay are key variables that determine tourism revenue.
Meanwhile, the tourism balance is calculated based on the general travel balance—excluding study abroad and training programs—within the Bank of Korea’s balance of payments. It is the difference between tourism revenue generated by foreign visitors in Korea and tourism expenditures made by Korean citizens abroad. International passenger fares are not included. The figures for 2026 are preliminary.