The weekly number of travelers between Busan and Japan has declined since the beginning of this month, a possible result of growing tensions between Seoul and Tokyo.

Korea Airports Corporation(KAC) said on Wednesday that flights between South Korea’s southern port city and Japan had an average occupancy rate of 66-point-nine percent in the first week of this month, an eight-point-four percent drop from a week earlier. 

A KAC official pointed out, however, that all international flights from Busan saw similar declines in occupancy rates and that is unclear if the decline of Japan-bound flights is attributable to Tokyo’s trade restrictions announced last Monday.

However, tourism industry sources say the number of South Koreans traveling to Japan has declined since late last year and may drop further as tensions escalate.

Observers say South Korea's low-cost carriers will be particularly hard hit by a reduction in travel to the island nation, and that their stock prices have declined compared to last week.