According to Korean Tourism Organisation, 4.7 million Chinese tourists have already visited south Korea in the first 10 months of 2025, which is more than the total number of visitors for the entire last year.
Recent movements in Asian currencies are beginning to influence travel decisions across the region, particularly among Chinese tourists weighing cost and value when choosing their next destination.
Several Southeast Asian currencies have strengthened against the U.S. dollar in recent months. Since July, the Thai baht, Indonesian rupiah, and Malaysian ringgit have each appreciated by a little over 2.5 percent, reflecting relative stability and investor confidence in these economies. This upward movement has helped maintain the purchasing power of travelers heading to countries such as Thailand, Indonesia, and Malaysia.
South Korea, however, has followed a different path. During the same period, the Korean won has weakened sharply, losing close to 9 percent of its value. While currency depreciation can signal economic pressure, it can also make a country more affordable for foreign visitors — and that is exactly what is happening in South Korea’s tourism sector.
The shift is particularly noticeable when looking at exchange rates between China and South Korea. From early July through mid-December, the Chinese yuan strengthened by more than 9 percent against the won. As a result, Chinese travelers now receive significantly more won for the same amount of yuan than they did just a few months ago. This change has quietly improved South Korea’s price competitiveness, lowering the effective cost of hotels, dining, shopping, and entertainment for visitors from China.
These currency dynamics come at a time when travel patterns in Northeast Asia are already in flux. While Japan has traditionally been a top destination for Chinese tourists, rising political sensitivities and other non-financial considerations have made trips there feel less attractive for some travelers. Combined with currency movements, this has altered the value equation in favor of South Korea.
Industry experts believe these trends could have lasting effects on regional tourism flows. Subramania Bhatt, chief executive of travel marketing and technology company China Trading Desk, has noted that the weaker won has turned South Korea into a more cost-effective choice for Chinese tourists, especially as Japan has become less appealing from both a political and pricing perspective.
If current exchange-rate trends persist, South Korea may continue to draw increased attention from budget-conscious travelers seeking international experiences without stretching their travel budgets. In an industry where affordability often plays a decisive role, currency shifts — even subtle ones — can be powerful drivers of where tourists ultimately choose to go.