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Guide to Tourism Investment

We introduce materials which give help to investment related to tourism investment.
Main Guide to Tourism Investment Tourism Investment in Korea Korea’s Tourism Environment
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Korea’s Tourism Environment

Transformation of Tourism Trend

Top 10 Tourism Trends for 2015
Top 10 Tourism Trends for 2015
Tourism Trends Contents
  • 1.
  • Korea’s tourism industry changed by increasing Chinese tourists
  • As Chinese overseas travelers are increasing, the whole world pay attention to the potential and scale of Chinese tourism market.
  • Necessity for continuous improvement in preparations for receiving Chinese visitors to Korea.
  • 2.
  • Boundary-breaking tourism
  • The acceleration of fusion trend throughout the entire industry.
  • The cultivation of new fusion tourism realm and the importance of preparation for the extension of fusion tourism contents.
  • 3.
  • New emerging values of tourism (3S: Safe, Sustainable, and Social)
  • ‘Safe Tourism’, ‘Sustainable Tourism’, and ‘Social Tourism’
  • The emphasis on corporate social responsibility (CSR) to offer tourism opportunities for the less privileged.
  • 4.
  • New tourism ecosystems supported by advanced online services
  • Tourists' access to information rapidly improved through the use of internet and smart phones.
  • Preparation for a plan to cope with the transformation to digital and social media era in the tourism industry.
  • 5.
  • Outdoor recreational activities ― pleasure from discomfort
  • Continuing increases in demand for environment-friendly leisure sports such as biking and mountain climbing.
  • Necessity to respond to the changes in the outdoor leisure market environment.
  • 6.
  • Traveling in search of hidden local attractions
  • Tourists become more interested in daily life spaces such as villages, markets and alleys than well—known attractions.
  • As local residents play a leading role in tourism, it is required to create an economic ecosystem to return the profits to the community.
  • 7.
  • Slow travel to seek for relaxation and happiness
  • Empathy, comfort, and healing emerge as new sociocultural codes.
  • Necessity for building tourism infrastructure of overnight stays with the concept of slow travel.
  • 8.
  • DIY travel planning
  • Increase in the number of FITs (Free Independent Travelers) along with the development of internet and smartphones.
  • Developing program matching with the demand putting priority on individual experiences.
  • 9.
  • The new emerging market of the middle ages
  • Increase in the number of travellers in the 40s and 50s.
  • Considering the traveling culture of the middle aged, new detailed tourism resources needs to be developed
  • 10.
  • Preference for affordable and practical (Cheap Chic) tourism products
  • Due to economic depression, many tourists seek a high quality and affordable tourism product.
  • Necessity for new sustainable strategies of tourism industry to overcome the current phase of low growth.

Source : Korea Tourism and Culture Institute (2016). Korea Tourism Policy. Vol. 59.

Prospect for Global and Domestic Tourism Market

1. The Number of Inbound Visitors(2016)

The Number of Inbound Visitors(2014) download

2. Expenditures of Inbound Visitors(2016)

Expenditures of Inbound Visitors(2014) download

3. Accommodation Use by Inbound Visitors (2012-2016)

Accommodation Use by Inbound Visitors (2010-2014) download

4. Domestic Tourism Demand(2016)

Traveling Days of Domestic Travelers
Traveling Days of Domestic Travelers

Division

Unit 2012 2013 2014 2015 2016
Total Days 365,282,249 389,220,312 397,846,767 406,818,700 412,378,155
Growth Rate (%) 21.4 6.2 2.2 2.3 1.4
Overnight Travel Days 244,102,488 257,852,307 269,268,235 268,297,184 271,696,131
Growth Rate (%) 17.3 5.3 4.2 -0.4 1.3
Day Trip Days 121,179,761 131,368,005 128,578,532 138,521,516 140,682,024
Growth Rate (%) 29.9 7.8 -2.2 7.7 1.6

Source : Ministry of Culture, Sports and Tourism (2017). National Travel Survey 2016.


Expenditures of Domestic Travelers
Expenditures of Domestic Travelers

Division

Unit 2012 2013 2014 2015 2016
Total million won 23,891,080 23,234,315 24,845,762 25,395,649 25,748,487
% 15.4 -2.8 6.5 2.2 1.4
Overnight Travel million won 15,792,051 15,479,252 16,827,720 16,983,064 17,204,166
% 12.3 -2.0 8.0 0.9 1.3
Day Trip million won 8,099,030 7,755,063 8,018,042 8,412,585 8,544,321
% 21.5 -4.4 3.3 4.9 1.6

Source : Ministry of Culture, Sports and Tourism (2017). National Travel Survey 2016.



Domestic Tourism Demand
  • Domestic Travel Movement
  • Transition of Domestic Travel
  • Transition of Domestic Travel Frequency
  • Transition of Domestic Travel Cost