April 28, 2026
SEOUL – For international travelers watching their budgets, Seoul is emerging as one of the world’s most cost-effective major cities, with prices often a fraction of those in top tourism destinations.
A recent analysis by Yanolja Research, a private research institute operated by the Korean travel-tech company Yanolja, Seoul was one of the most competitively priced destinations in terms of accommodation, transportation and dining costs across major cities. The average hotel rate stands at $89.90 per night, compared with $419.40 in New York.
The gap extends beyond the US. European cities such as Paris, Barcelona and Rome were found to be roughly three times more expensive, while within Asia, Seoul remains at least 30 percent cheaper than Tokyo and Singapore.
Value becomes even more pronounced outside the capital. Busan, South Korea’s second-largest city, recorded an average hotel price of $53 — a level the report described as delivering “five-star hardware on a three-star budget.”
Transportation costs reinforce the advantage, according to the report. A 10-kilometer taxi ride in Seoul averages about $8.60, roughly a quarter of the cost in cities like London and Berlin. Public transit is similarly affordable, while maintaining high standards of cleanliness, punctuality and accessibility.
Dining, another major travel expense, is also comparatively low, the report found. A typical restaurant meal costs about $8.79 per person, around one-third of prices in New York or London. Even when compared with nearby cities such as Tokyo or Hong Kong, Korea offers added value through complimentary side dishes and free water.
Macroeconomic factors are further strengthening Seoul’s appeal, the report said. A weaker Korean won has boosted the purchasing power of foreign visitors, while World Bank-based metrics cited in the report show that goods and services in Korea remain cheaper than in many advanced economies.
The findings challenge the perception that travel in Korea is expensive — an image often shaped by peak-season price spikes rather than overall cost levels, it added.