Tourism Source Market Insight - South Korea (2021)

Tourism Source Market Insight - South Korea (2021)

  • May 2021 •
  • 34 pages •
  • Report ID: 6089380 •
  • Format: PDF
Tourism Source Market Insight - South Korea (2021)

Summary
Tourism Source Market Insight - South Korea (2021) report provides a thorough insight into South Korea’s intra-regional and outbound tourism market.The report looks at the profiles of South Korean tourists and summarizes the key reasons that they travel.

The report offers an in-depth analysis of traveler flows, spending patterns, main destination markets and current and future opportunities for tourism businesses seeking to tap into the South Korean outbound travel market. It also assesses the impact of the COVID-19 pandemic.

Key Highlights
- Only 17% of South Korean respondents were ‘extremely concerned’ regarding the general impact of the pandemic in Q12021 consumer survey, lower than average global responses (42%).
- 2020 saw outbound tourism decline by -80.6% with 5.5 million traveling internationally compared to 28.7 million in 2019.
- Domestic travel for leisure will continue to top VFR, but VFR is forecast the highest growth rate from 2021 to 2025 (CAGR 2021-25: 7.7%).

Scope
- This report is part of Source Market Insights Series. This report provides an in-depth analysis of traveler flows, spending patterns, main destination markets, as well as current and future opportunities for tourism businesses seeking to tap into the South Korean outbound travel market.

Reasons to Buy
- This report provides clear insight into developments in South Korea’s domestic, intra-regional and outbound tourism markets.
- The report uses data and analysis to discuss future trends related to domestic trips, international departures, traveler spending, and main destination markets.
- The report explores the different profiles of South Korean tourists and the reasons that they travel, hence providing an insight into the trends in different segments of the market.
- The reader gains a strong understanding of the opportunities in the country, as well as the risks, to support better business decisions
- This report examines the impact of COVID-19 on South Korean outbound and domestic tourism
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