Thursday, 11 December 2014

Travel and Tourism in South Korea to 2018

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Travel and Tourism in South Korea to 2018

Rapid economic development in Asian countries has benefitted the South Korean Travel and Tourism sector across all categories — domestic, inbound, and outbound — in terms of both tourism flows and expenditure. The increasing popularity of Korean popular culture, known as the Korean wave, has increased tourist arrivals from Southeast Asia and India. According to the World Economic Forum Travel and Tourism Competitiveness Index 2013, South Korea ranked sixth among 25 countries in terms of overall travel and tourism in Asia-Pacific.

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Key Findings

    Domestic tourist volumes in South Korea increased from 31.2 million in 2009 to 33.5 million in 2013, at a CAGR of 1.83%. The growth was driven by improving economic conditions, rising consumer confidence, and higher disposable incomes
    Strong growth was recorded in the South Korean inbound tourism sector during the historic period, with the number of international arrivals rising from 7.6 million in 2009 to 11.9 million in 2013, at a CAGR of 11.84%. Inbound tourist expenditure also increased at a CAGR of 5.84%, from KRW12.5 trillion (US$9.8 billion) in 2009 to KRW15.7 trillion (US$14.3 billion) in 2013. The strong growth in international arrivals can be attributed to marketing initiatives and relaxed visa regulations
    South Korea’s medical tourism sector has risen significantly during the historic period and the country has established itself as a popular cosmetic surgery destination. The number of medical tourists to South Korea increased from 60,201 in 2009 to 211,218 in 2013, rising significantly at a CAGR of 36.9%. The total number of medical tourists increased from 154,464 in 2012 to 211,218 in 2013, representing an increase of 32.5%
    China was a key source country for South Korea with 4.3 million Chinese visitors in 2013, up from 2.8 million visitors in 2012. Travel is being supported by policies such as visa-free short-term visits to South Korea

Synopsis

The report provides detailed market analysis, information and insights, including:

    Historic and forecast tourist volumes covering the entire South Korean Travel and Tourism sector
    Detailed analysis of tourist spending patterns in South Korea for various categories in the Travel and Tourism sector, such as accommodation, sightseeing and entertainment, foodservice, transportation, retail, travel intermediaries, and others
    Detailed market classification across each category, with analysis using similar metrics
    Detailed analysis of the airline, hotel, car rental, and travel intermediaries industries



Reasons To Buy


    Make strategic business decisions using historic and forecast market data related to the South Korean Travel and Tourism sector
    Understand the demand-side dynamics within the South Korean Travel and Tourism sector, along with key market trends and growth opportunities

1 Executive Summary
1.1 Key Trends and Issues
1.1.1 Focus on Chinese visitors
1.1.2 Cruise tourism
1.1.3 Growing medical tourism

2 The Travel and Tourism Sector In Context
2.1 Tourist Attractions

3 Country Fact Sheet

4 Tourism Flows
4.1 The Market
4.1.1 Domestic tourism
4.1.2 Inbound tourism
4.1.3 Outbound tourism
4.2 Key Developments
4.2.1 Medical tourism
4.2.2 Strategic focus on Chinese visitors

5 Airlines
5.1 The Market
5.2 Key Developments
5.2.1 Airport infrastructure development
5.2.2 Expansion of LCCs
5.3 Competitive Landscape
5.4 TTIC View

6 Hotels
6.1 The Market
6.2 Key Developments
6.2.1 Hotel boom in Seoul
6.2.2 Hotel development in other areas
6.3 Competitive Landscape
6.4 TTIC View

7 Car Rental
7.1 The Market
7.2 Key Developments
7.2.1 Emergence of car-sharing service
7.2.2 Expansion by international operators
7.2.3 Long-term car rental
7.3 Competitive Landscape
7.4 TTIC View

8 Travel Intermediaries
8.1 The Market
8.2 Key Developments
8.2.1 Financial Investment
8.3 TTIC View

9 Tourism Board Profile
9.1 Tourist Board Description
9.2 Target Market

10 Airport Profiles
10.1 Airports in South Korea
10.1.1 Overview
10.1.2 Operator profile
10.1.3 Routes

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