South Korea - Travel & Tourism: A developing tourism market (Strategy, Performance and Risk Analysis)

  • ID: 4456158
  • Report
  • Region: South Korea
  • 86 pages
  • MarketLine
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South Korea - Travel & Tourism: A developing tourism market (Strategy, Performance and Risk Analysis)

Summary:

During the review period (2012-2016), total tourist volumes recorded a review-period CAGR of 4.1%, rising from 117.2 million in 2012 to 141.9 million in 2016. It will post a forecast-period CAGR of 5.6%, to reach 185.9 million in 2021 due to the growth of domestic and inbound tourist inflows.

The passenger airline segment registered growth in terms of the number of seats available, volume of seats sold, and passenger revenue. During the review period, South Korea’s accommodation category registered growth in the volume of tourist traveling for the purposes of leisure, number of room nights available, number of rooms nights occupied, and revenue.

These industry reports provides a comprehensive overview and include sections on risk and reward, key industry trends and drivers, SWOT analysis, industry benchmarking, competitive landscape, industry innovation, deals and key developments.

Key Highlights:

Luxury segment to drive growth

Growth will be driven by the luxury segment due to the expansion of Wyndham and Accor. Luxury hotel revenue recorded a CAGR of 1.3%, rising from US$1.9 billion in 2012 to US$2.0 billion in 2016. It will post a forecast-period (2017-2021) CAGR of 3.1%, to reach US$2.4 billion in 2021.

Online travel intermediaries to drive revenue over the forecast period

Revenue generated by online travel intermediaries recorded a CAGR of 9.3%, rising from US$1.6 billion in 2012 to US$2.3 billion in 2016. It will post a forecast-period CAGR of 12%, to reach US$4.1 billion in 2021. Growth is being driven by the deepening of internet penetration rates coupled with the associated flexibility and ease of online bookings.

Increase in international trips to drive revenues

Passenger airline revenue recorded a CAGR of 8.2%, rising from US$14.8 billion in 2012 to US$20.2 billion in 2016. It will post a forecast-period CAGR of 10.4%, to reach US$34.4 billion in 2021 driven by an increase in international travel due to the expansion of long haul flights, the strengthening of the Korean won in the international market, and the relaxation of visa regulations.

Scope
  • Risk & Reward Index - The Risk & Reward Index compares the lucrativeness of the South Korean travel and tourism industry with other countries in the region via a set of specific risk and reward parameters.
  • Industry Snapshot and Industry View - Key travel and tourism industry statistics, including revenue and expenditure in key segments and trends driving market performance.
  • Industry SWOT Analysis - Discover the strengths, weaknesses, opportunities and threats impacting market performance.
  • Industry Benchmarking - Benchmarks the South Korean travel and tourism industry’s performance against regional and global markets in terms of car rental fleet size, car rental revenue, number of hotels, hotel revenue, passenger airline revenue, seats available and seats sold, travel intermediary revenue, and tourism expenditure growth.
  • Competitive Landscape - Overview of players in the South Korean travel and tourism industry, specifically airlines, hotels and car rental companies split by category and compared against their peers across a set of relevant industry indicators.
Reasons to buy
  • How is the market performing in terms of indicators such as total tourist visits, passenger airline seats sold, seats sold by purpose of visit such as leisure, revenue, room nights available, room nights occupied, hotel revenue, car rental days among others.
  • How risky is it to invest in the South Korean travel and tourism industry compared to other countries in the Asia-Pacific?
  • What is driving the performance of key industry segments such as passenger airlines, accommodation and car rentals?
  • Who are the leading players in the South Korean travel and tourism industry and their overview and product portfolio?
  • What trends are being witnessed within the South Korean travel and tourism industry?
  • What are the South Korean travel and tourism industry’s Strengths and Weaknesses and what Opportunities and Threats does it face?
  • What are the recent developments and innovations in the South Korean travel and tourism industry?
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  • Risk & Reward Index
  • Industry Snapshot
  • Industry View
  • Industry SWOT Analysis
  • Industry Benchmarking
  • Industry Performance
  • Competitive Landscape
  • Innovation
  • Deals
  • Key Developments
  • Appendix
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