Travel & Tourism in South Korea
Summary
Travel & Tourism in South Korea industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2018-23, and forecast to 2028). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- Travel & tourism industry is segmented into passenger airlines, passenger rail, foodservice, hotels & motels, and travel intermediaries.
- The South Korean travel & tourism industry recorded revenues of $84.2 billion in 2023, representing a negative compound annual growth rate (CAGR) of 0.8% between 2018 and 2023.
- The travel intermediaries segment accounted for the industry's largest proportion in 2023, with total revenues of $41.0 billion, equivalent to 48.7% of the industry's overall value.
- In 2023, the industry experienced a significant value increase, recovering from recent declines, primarily driven by increasing capital investment, particularly in sectors such as airlines, railways, foodservice, and accommodation. Investors are channelling more funds into expanding travel infrastructure to meet rising demand. According to the World Bank, the capital investment in travel and tourism in South Korea reached $14.8 billion in 2023, reflecting a 4.6% increase from 2022.
- Save time carrying out entry-level research by identifying the size, growth, major segments, 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 by both value and volume
- What was the size of the South Korea travel & tourism market by value in 2023?
- What will be the size of the South Korea travel & tourism market in 2028?
- 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?
- What are the main segments that make up South Korea's travel & tourism market?
- 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 are the strengths and strategies of the leading players?
- 7.3. What are the recent developments in the industry?
- 8 Company Profiles
- 8.1. Hanatour Service Inc
- 8.2. Korean Air Lines Co Ltd
- 8.3. Kangwon Land Inc
- 8.4. Kyochon F&B 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, 2018-23
- Table 2: South Korea travel & tourism industry category segmentation: % share, by value, 2018-23
- Table 3: South Korea travel & tourism industry category segmentation: $ million, 2018-23
- Table 4: South Korea travel & tourism industry geography segmentation: $ million, 2023
- Table 5: South Korea travel & tourism industry value forecast: $ million, 2023-28
- Table 6: Hanatour Service Inc: Key Facts
- Table 7: Hanatour Service Inc: Annual Financial Ratios
- Table 8: Hanatour Service Inc: Key Employees
- Table 9: Korean Air Lines Co Ltd: Key Facts
- Table 10: Korean Air Lines Co Ltd: Annual Financial Ratios
- Table 11: Korean Air Lines Co Ltd: Key Employees
- Table 12: Kangwon Land Inc: Key Facts
- Table 13: Kangwon Land Inc: Annual Financial Ratios
- Table 14: Kangwon Land Inc: Key Employees
- Table 15: Kyochon F&B Co Ltd: Key Facts
- Table 16: Kyochon F&B Co Ltd: Annual Financial Ratios
- Table 17: Kyochon F&B Co Ltd: Key Employees
- Table 18: South Korea Size of Population (million), 2019-23
- Table 19: South Korea Real GDP (Constant 2010 Prices, $ Billion), 2019-23
- Table 20: South Korea GDP (Current Prices, $ Billion), 2019-23
- Table 21: South Korea Inflation, 2019-23
- Table 22: South Korea Consumer Price Index (Absolute), 2019-23
- Table 23: South Korea Exchange Rate, 2018-23
- List of Figures
- Figure 1: South Korea travel & tourism industry value: $ million, 2018-23
- Figure 2: South Korea travel & tourism industry category segmentation: $ million, 2018-23
- Figure 3: South Korea travel & tourism industry geography segmentation: % share, by value, 2023
- Figure 4: South Korea travel & tourism industry value forecast: $ million, 2023-28
- Figure 5: Forces driving competition in the travel & tourism industry in South Korea, 2023
- Figure 6: Drivers of buyer power in the travel & tourism industry in South Korea, 2023
- Figure 7: Drivers of supplier power in the travel & tourism industry in South Korea, 2023
- Figure 8: Factors influencing the likelihood of new entrants in the travel & tourism industry in South Korea, 2023
- Figure 9: Factors influencing the threat of substitutes in the travel & tourism industry in South Korea, 2023
- Figure 10: Drivers of degree of rivalry in the travel & tourism industry in South Korea, 2023
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