South Korea Tourism Market Overview
Base Year: 2023
Market Size in 2023: USD 13.11 Billion
Market Size in 2032: USD 20.36 Billion
Market Growth Rate: 4.98% (2024-2032)
South Korea tourism industry has experienced significant growth in recent years, driven by a combination of factors. According to IMARC Group, the market size reached USD 13.11 Billion in 2023. Looking forward, IMARC Group expects the market to reach USD 20.36 Billion by 2032, exhibiting a growth rate (CAGR) of 4.98% during 2024-2032.
Download sample copy of the Report: https://www.imarcgroup.com/south-korea-tourism-market/requestsample
South Korea Tourism Industry Trends and Drivers:
South Korea tourism industry has experienced significant growth in recent years, driven by a combination of factors. The global popularity of Korea culture, known as "Hallyu," has played a major role in attracting tourists from around the world. K-pop, K-dramas, and Korean movies have captivated audiences worldwide, inspiring many to visit the country to experience the culture firsthand. The South Korean government has also implemented various initiatives to promote tourism. The easing of visa restrictions for certain countries has made it easier for tourists to visit South Korea. Additionally, the development of tourism infrastructure, such as improved transportation networks and accommodation facilities, has enhanced the overall tourist experience.
However, the COVID-19 pandemic had a significant impact on South Korea's tourism industry, leading to a sharp decline in international visitor arrivals. As the global situation improves and travel restrictions are lifted, the country is actively working to revitalize its tourism sector. The focus is on promoting sustainable tourism, emphasizing eco-friendly practices and cultural preservation. By diversifying its tourism offerings and targeting niche markets, South Korea aims to attract a wider range of visitors and ensure the long-term growth of its tourism industry.
The South Korea tourism market forecast offers insights into future opportunities and challenges, drawing on historical data and predictive modeling.
South Korea Tourism Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Tourism Type:
- Medical
- Sports
- Cultural
- Culinary
- Wellness
- Educational
- Others
Breakup by Tourist Type:
- Domestic
- International
Breakup by Travel Type:
- Solo
- Group
Breakup by Booking Channel:
- OTA Platform
- Direct Booking
Breakup by Age Group:
- Below 30 Years
- 30 to 41 Years
- 42 to 49 Years
- 50 Years and Above
Breakup by Region:
- Seoul Capital Area
- Yeongnam (Southeastern Region)
- Honam (Southwestern Region)
- Hoseo (Central Region)
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
