South Korea Overview Opportunity: High-Speed Rail and Winter Olympics
South Korea Tourism Overview
Korea is a popular tourist destination for both Japanese and Chinese visitors, who, when combined, accounted for nearly 50% of its total international visitors in 2017. The geographic proximity plus its charming tourism offerings are ideal for short getaway visits, particularly to the capital city Seoul.
The Korean tourism industry is driven by the peppy cultural trend called 'Hallyu', also known as the Korean wave. Originating from popular media, including K-Pop artists and TV dramas, it gradually spread to industries such as cosmetics, food, electronics, etc. According to the Korea Foundation for International Culture Exchange (KOFICE), the Korean wave effect on production inducement was estimated to be approximately KRW 15.6 trillion (USD 14bn) in 2015.
Among the numerous regional tourism destinations, Korea consistently ranks within the top 5 destinations for Chinese travelers for more than 10 consecutive years.
