South Korea Travel and Tourism Market Summary and Forecast
Summary
Travel & Tourism in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The travel & tourism industry consists of revenues generated by passenger airlines, passenger rail, hotels & motels, foodservice, travel intermediaries, and casinos & gaming.
- The South Korean travel & tourism industry had total revenues of $52.2 billion in 2022, representing a negative compound annual growth rate (CAGR) of 3.2% between 2017 and 2022.
- The travel intermediaries segment accounted for the industry's largest proportion in 2022, with total revenues of $21.3 billion, equivalent to 40.8% of the industry's overall value.
- The growth of the industry is attributed to rising leisure and business tourism, growth in the hotel and motel industry, an increasing number of global events attracting large visitors, boosting infrastructure development, easing mobility, and emerging adventure tourists. For instance, according to GlobalData, the proportion of travel and tourism in the GDP of South Korea increased to 1.45% in 2022 from 0.46% in the previous year.
- Save time carrying out entry-level research by identifying the size, growth, and leading players in the travel & tourism market in South Korea
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the travel & tourism market in South Korea
- Leading company profiles reveal details of key travel & tourism market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the South Korea travel & tourism market with five year forecasts
- What was the size of the South Korea travel & tourism market by value in 2022?
- What will be the size of the South Korea travel & tourism market in 2027?
- What factors are affecting the strength of competition in the South Korea travel & tourism market?
- How has the market performed over the last five years?
- How large is South Korea’s travel & tourism market in relation to its regional counterparts?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market rivalry
- 1.6. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Who are the leading players?
- 7.2. What strategies do the leading players follow?
- 7.3. What are the strengths of leading players?
- 8 Company Profiles
- 8.1. Hanatour Service Inc
- 8.2. CJ Corp
- 8.3. Korean Air Lines Co Ltd
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: South Korea travel & tourism industry value: $ million, 2017–22
- Table 2: South Korea travel & tourism industry category segmentation: % share, by value, 2017–2022
- Table 3: South Korea travel & tourism industry category segmentation: $ million, 2017-2022
- Table 4: South Korea travel & tourism industry geography segmentation: $ million, 2022
- Table 5: South Korea travel & tourism industry value forecast: $ million, 2022–27
- Table 6: Hanatour Service Inc: key facts
- Table 7: Hanatour Service Inc: Annual Financial Ratios
- Table 8: Hanatour Service Inc: Key Employees
- Table 9: CJ Corp: key facts
- Table 10: CJ Corp: Annual Financial Ratios
- Table 11: CJ Corp: Key Employees
- Table 12: Korean Air Lines Co Ltd: key facts
- Table 13: Korean Air Lines Co Ltd: Annual Financial Ratios
- Table 14: Korean Air Lines Co Ltd: Key Employees
- Table 15: South Korea size of population (million), 2018–22
- Table 16: South Korea gdp (constant 2005 prices, $ billion), 2018–22
- Table 17: South Korea gdp (current prices, $ billion), 2018–22
- Table 18: South Korea inflation, 2018–22
- Table 19: South Korea consumer price index (absolute), 2018–22
- Table 20: South Korea exchange rate, 2018–22
- List of Figures
- Figure 1: South Korea travel & tourism industry value: $ million, 2017–22
- Figure 2: South Korea travel & tourism industry category segmentation: $ million, 2017-2022
- Figure 3: South Korea travel & tourism industry geography segmentation: % share, by value, 2022
- Figure 4: South Korea travel & tourism industry value forecast: $ million, 2022–27
- Figure 5: Forces driving competition in the travel & tourism industry in South Korea, 2022
- Figure 6: Drivers of buyer power in the travel & tourism industry in South Korea, 2022
- Figure 7: Drivers of supplier power in the travel & tourism industry in South Korea, 2022
- Figure 8: Factors influencing the likelihood of new entrants in the travel & tourism industry in South Korea, 2022
- Figure 9: Factors influencing the threat of substitutes in the travel & tourism industry in South Korea, 2022
- Figure 10: Drivers of degree of rivalry in the travel & tourism industry in South Korea, 2022
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