Travel and Tourism in South Korea to 2019

Travel and Tourism in South Korea to 2019

Code: CAN-TT0233MR | Published: Sep-2015 | Pages: 113 | Canadean
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Both inbound and domestic trips registered healthy growth during the historic period. However, the outbreak of a deadly virus called Middle East Respiratory Syndrome (MERS) during mid 2015; is expected to show a decline in the number of inbound tourists. In order to attract foreign tourists back to the country, Korea Tourism Organization (KTO) launched its 100-day Tourism Recovery Plan in 2015 through which they can promote the countrys tourism locations, cuisine and other tourism offerings. To promote domestic tourism, in 2014, the President announced measures such as domestic tourism week and alternative holiday systems at the workplaces. Moreover, outbound trips increased in 2014 following the South Korean Won currency appreciation against the Japanese yen and other foreign currencies such as the euro.

Key Findings
- South Koreas travel and tourism sector performed well during the historic period (2009-2014), supported by a rise in both domestic and inbound trips. Moreover, international arrivals increased at a CAGR of 12.78%, while inbound tourist expenditure increased at a historic period CAGR of 8.48%. Korean pop culture, easy visa policies and the improved transport capacity of airlines were a few major factors that can be attributed for the growth of inbound tourism.

- The outbound trips increased in 2014 due to the appreciation of the South Korean Won against the Japanese yen and other foreign currencies such as the euro. However, due to an outbreak of a deadly virus called Middle East Respiratory Syndrome (MERS) during mid 2015, inbound tourism is expected to be adversely affected.

- By 2017, South Korea aims to attract almost 350,000 Russian medical tourists each year. Following the visa-free agreement between both the countries in 2014, South Korea has become easily approachable for the Russians as travelers are allowed to visit in either direction for up to 60 days without a visa. Moreover, in March 2015, an exhibition was held in Sibexpocentre Exhibition Complex in Irkutsk (Russia), demonstrating South Koreas latest achievements aiming to establish business partnership in the field of medicine and medical tourism with Russia, and providing information about traveling in South Korea. Leading Korean medical facilities, tour operators and other organizations working in the field of medical tourism were main part of this exhibition.

- Several hotel chains are expanding in South Korea, for example, Starwood Hotels and Resorts Worldwide has partnered with Parnas Hotel to launch its first Luxury Collection brand in Seoul in 2016. Wyndham Hotel Group is also set to expand its presence in South Korea with 26 new construction hotels, expected to be completed by 2018. Moreover, by November 2015, Best Western (BW) is planning to develop its first urban boutique hotel concept Vib in Seoul.

Synopsis
Canadeans report - Travel and Tourism in South Korea to 2019" provides detailed information on the South Korean tourism sector, analyzing market data and providing insights. This report provides a better understanding of tourism flows, expenditure, and the airline, hotel, car rental, and travel intermediaries industries.

What else does this report offer?

- Historic and forecast tourist volumes covering the entire South Korean Travel andTourism sector

- Detailed analysis of tourist spending patterns in South Korea for various categories, such as accommodation, sightseeing entertainment, foodservice, transportation, retail, travel intermediaries, and others

- Analysis of trips by purpose and mode of transport, and expenditure across various categories including domestic, inbound and outbound tourism, with analysis using similar metrics

- Analysis of the airline, hotel, car rental, and travel intermediaries industries by customer type - leisure and business travelers

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 industry to identify key market trends and growth opportunities

- Direct the promotional efforts on most promising markets by identifying the key source and destination countries

Table of Contents

Executive Summary
Introduction
Travel and Tourism Sector in Context
Domestic Tourism
Market summary and key developments in South Korean domestic tourism market
Historical and projected figures for domestic trips and domestic expenditure in South Korea
Domestic trips-trips by purpose of visit and by season, average length of trip and overnight stays
Inbound Tourism
Market summary and key developments in South Korean inbound tourism market
Historical and projected figures for inbound trips and inbound expenditure in South Korea
Tourist arrivals from top 10 countries to South Korea
Inbound trips-trips by purpose of visit and mode of transport
Inbound trips-average length of trip and overnight stays
Outbound Tourism
Market summary and key developments in South Korean outbound tourism market
Historical and projected figures for outbound trips and outbound expenditure in South Korea
Tourist departures to top 10 countries from South Korea
Outbound trips-trips by purpose of visit and mode of transport
Outbound trips-average length of trip and overnight stays
Airlines
Market summary and key developments in South Korean airlines industry
Revenues and seats sold in South Korean airlines market
Low cost airlines in South Korea-seats available, seats sold and load factor
Low cost airlines in South Korea-total revenue and revenue per customer
Low cost airlines in South Korea-revenue generating passenger kilometers versus kilometers available
Full service airlines in South Korea-seats available, seats sold and load factor
Full service airlines in South Korea-total revenue and revenue per customer
Full service airlines in South Korea-revenue generating passenger kilometers versus kilometers available
Charter airlines in South Korea-seats available, seats sold and load factor
Charter airlines in South Korea-total revenue and revenue per customer
Charter airlines in South Korea-revenue generating passenger kilometers versus kilometers available
Competitive landscape
Hotels
Market summary and key developments in South Korean hotel industry
Revenues, room nights available and revenue per available room in South Korean hotel industry
Hotel establishments by category and available hotel rooms by category in South Korea
Budget hotels-revenues, room occupancy rates, room nights available and room nights occupied
Budget hotels-revenue per available room and revenue per occupied room
Budget hotels-revenue by customer type and guests by customer type
Midscale hotels-revenues, room occupancy rates, room nights available and room nights occupied
Midscale hotels-revenue per available room and revenue per occupied room
Midscale hotels-revenue by customer type and guests by customer type
Upscale hotels-revenues, room occupancy rates, room nights available and room nights occupied
Upscale hotels-revenue per available room and revenue per occupied room
Upscale hotels-revenue by customer type and guests by customer type
Luxury hotels-revenues, room occupancy rates, room nights available and room nights occupied
Luxury hotels-revenue per available room and revenue per occupied room
Luxury hotels-revenue by customer type and guests by customer type
Competitive Landscape
Car Rental
Market value of car rental industry in South Korea
Car rental value in South Korea by rental type and location, and average revenue per day
Car rental in South Korea-fleet size, rental days and market utilization rate
Travel Intermediaries
Market value of travel intermediaries industry in South Korea
Travel i??ter??ediaries o??li??e reve??ues a??d i??-store revenues by provider
Airport Profiles
Market Data
Domestic tourism
Inbound tourism
Outbound tourism
Airlines
Hotels
Car rental
Travel intermediaries
Tourism output
Tourism employment
Appendix
Travel and tourism sector definitions

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