“I’m going to Southeast Asia at this point”… Why the unusual ‘negative growth’ during the holiday season

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During the summer vacation season, ‘consumption’ tends to increase. So, I was expecting that the domestic economy would improve this summer, but looking at the recently released indicators, I am a bit disappointed.

Reporter Yu Deok-gi will tell you why this is so.


Mr. Bae Mo, an office worker in his 30s, spent a family vacation in Jeju Island during the corona pandemic.

He is contemplating an overseas trip this year.

This is because there is not much difference between the cost of domestic travel and international travel.

[Bae Mo/Office worker: When I came back to Jeju Island (back home) and handled the expenses, I spent a lot. In this case, it’s just a package and it’s 토토사이트just Southeast Asia… .]

Last month, the peak vacation season, the overall consumer price increase rate was 2.3%, but by region, Jeju Island recorded the lowest at 1.2%.

Jeonnam and Gangwon, which are home to famous summer resorts, also fell short of the average.

It is not that the actual price has gone down, but that the price of lodging, food and beverage services in resort areas has risen too much, so demand has decreased, and this has been revealed as a result of less price increases.

Actual travel-related items are also experiencing an unusual ‘reverse growth’ during the holiday season.

Rental car costs, which rose 24.7% in the same month last year, fell 17.4%, and group travel costs, which rose 27.5%, also fell 9.3%.

It’s not just tourism.

The retail sales index for restaurants and bars in the second quarter decreased by 13.4% from last year, the largest decrease in two years.

If the situation of continuing high prices is not offset by income growth, the phenomenon of reducing consumption after excluding essential things will eventually appear.

[Cheon So-ra/ Head of KDI Economic Outlook: The monetary policy stance is also going to tighten, and people may tend to reduce demand due to too high prices

. It makes the rebound in growth more opaque.

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