Korea's Q4 tourism confidence falls on economic slump

South Koreans predicted that they will reduce expenditure on traveling in the fourth quarter of this year due to the protracted economic downturn, a poll showed Tuesday. According to the survey of 1,000 men and women taken by the Korea Culture & Tourism Institute, the consumer survey index on overseas trips fell 20 points to 91 for the fourth quarter from a year ago, marking the lowest level since the October-December period of 2009. Index values of lower than 100 indicate pessimists outnumber optimists. The index on domestic trips also fell 16 points to 100 for the fourth quarter compared with a year earlier. "It is the first time that the consumer survey index on domestic trips fell to 100 since the fourth quarter of 2010," the institute said. However, the country's overall expenditure on tourism is expected to continue to increase on steady growth in the number of South Korean tourists traveling abroad during the October-December period, even though the tourist spending per capita will likely drop. "The total of overseas tourist expenditure is forecast to grow due to the South Korean won's continued appreciation against the U.S. dollar and an increase in overseas travel demands," the institute said.