May Golden Holiday Possibilities and Temporary Holiday Designation Outlook

With the upcoming May holiday, employees are paying attention to whether May 2nd will be designated as a temporary holiday. If it is designated, there will be an opportunity to take a maximum of 6 consecutive days off from Labor Day to the substitute holiday.

This year, Buddha's Birthday falls on the same day as Children's Day, making May 6th the confirmed substitute holiday. Additionally, if May 2nd is designated as a temporary holiday connecting to Labor Day on May 1st, it would allow for a continuous 6-day break.

The government has previously denied rumors of designating May 2nd as a temporary holiday.

The decision to designate a temporary holiday is made through consultations among the ruling party and relevant ministries, after which the Human Resources Innovation Office presents it to the Cabinet Council for final approval.

The government designated a temporary holiday during the last Lunar New Year holiday.

During the period when the Lunar New Year holiday was extended to a total of 6 days, including January 27, the government suggested the designation of a temporary holiday for the improvement of citizens' quality of life and the stimulation of domestic consumption.

However, contrary to expectations, after the designation of temporary holidays, a notable increase in overseas travel demand was observed rather than a boost in domestic consumption.

In January, during the month that included the temporary holiday, the number of outbound nationals reached 2,975,191, which is a 7.3% increase compared to the same month last year and a 9.4% increase compared to the previous month.

The number of outbound travelers during the period that included October 1st, which was designated as a temporary holiday last year, was recorded at 2,385,711, marking a 16.6% increase compared to the same month of the previous year.

Based on these statistics, there are concerns that temporary holidays may actually encourage overseas travel.

In May of this year, there are worries that the demand for overseas travel may increase due to the coincidence with Japan's cherry blossom and spring flower season.

It is analyzed that various factors, such as congestion at tourist sites, rising airfare, and a decrease in domestic consumption, may simultaneously influence the situation.

Temporary Holiday Designation Procedure and the Government's Cautious Stance

As the early presidential election date of June 3rd has already been designated as a temporary holiday, there is a high likelihood that the government will take a cautious stance in designating additional holidays due to the burden of adjusting the academic calendar.

In the context of the upcoming presidential election, the decision on whether to designate additional holidays is expected to be determined in the coming period based on movements within the political sphere and the government.

Image source: Naver Calendar capture, Incheon International Airport Terminal 1 crowded with travelers on January 23 prior to the Lunar New Year holiday / News1, reference image for understanding the article / gettyimagesbank