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The Future of Travel and Tourism in the

South Korea to 2016

Reference code: TT0064MR

Published: November 2012

www.timetric.com

Timetric

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EXECUTIVE SUMMARY

The Future of Travel and Tourism in South Korea to 2016

© Timetric. This product is licensed and is not to be photocopied


1 Executive Summary

Travel and tourism in the Republic of Korea (South Korea) contributed XX.X% to the national GDP

and XX.X% of the country’s total employment in 2011. In terms of inbound tourism, 2011 proved to be

a spectacular year with XX.X million travelers visiting the country, XX.X% more than in 2010.

However, outbound tourism growth still continues to outstrip inbound tourism growth, as the number

of South Koreans travelling abroad grew by XX.X% to XX.X million in 2011. The resulting imbalance

prompted the government to take steps to boost inbound tourism. While the economic development

achieved in the last XX years has catapulted the country in the ranks of the wealthy nations, South

Korea’s tourism sector has remained largely neglected, and the government has rolled out an

extensive campaign to promote South Korea as a tourist destination, and is aiming to attract XX.X

million visitors by 2020. South Korea’s relatively low profile is expected to fuel inbound tourism, as

tourists visiting Hong Kong, Malaysia, Thailand and Indonesia increasingly look to South Korea as a

previously unexplored destination.

Outbound tourism records a slowdown

TABLE OF CONTENTS




TABLE OF CONTENTS

1 Executive Summary......................................................................................................................... 2

2 Introduction ................................................................................................................................... 16 2.1 What is this Report About? ............................................................................................................................................... 16 2.2 Definitions ......................................................................................................................................................................... 16 2.3 Methodology ..................................................................................................................................................................... 22

3 Travel and Tourism in South Korea ............................................................................................. 24 3.1 Key Trends and Issues ..................................................................................................................................................... 24

3.1.1 Key trends ................................................................................................................................................................................. 24 3.1.2 Barriers to tourism ..................................................................................................................................................................... 24 3.1.3 Tourist attractions ...................................................................................................................................................................... 24 3.1.4 Government expenditure ........................................................................................................................................................... 25

3.2 Tourism SWOT ................................................................................................................................................................. 26 3.2.1 Overview of the tourism industry in South Korea ........................................................................................................................ 26 3.2.2 Strengths ................................................................................................................................................................................... 27 3.2.3 Weaknesses .............................................................................................................................................................................. 27 3.2.4 Opportunities ............................................................................................................................................................................. 27 3.2.5 Threats ...................................................................................................................................................................................... 28

3.3 Tourism Demand Factors ................................................................................................................................................. 29 3.3.1 Typical holiday entitlement of employees per annum by type ..................................................................................................... 29 3.3.2 Total population by age ............................................................................................................................................................. 29 3.3.3 Male population by age .............................................................................................................................................................. 31 3.3.4 Female population by age .......................................................................................................................................................... 32 3.3.5 Number of households ............................................................................................................................................................... 33 3.3.6 Mean household income ............................................................................................................................................................ 33

3.4 Tourism Market Indicators ................................................................................................................................................ 35 3.4.1 Number of trips by season ......................................................................................................................................................... 35 3.4.2 Number of trips by residents ...................................................................................................................................................... 36 3.4.3 Average length of tourism trips .................................................................................................................................................. 37 3.4.4 Average national tourism expenditure per day of trip ................................................................................................................. 38 3.4.5 Percentage of total resident income spent on tourism ................................................................................................................ 39 3.4.6 Total national tourism expenditure by tourist destination ............................................................................................................ 40 3.4.7 Total national tourism expenditure by category .......................................................................................................................... 42

4 Domestic Tourism in South Korea ............................................................................................... 44 4.1 Key Trends and Issues ..................................................................................................................................................... 44

4.1.1 Key trends ................................................................................................................................................................................. 44 4.1.2 Barriers to domestic tourism ...................................................................................................................................................... 44 4.1.3 Tourist attractions ...................................................................................................................................................................... 45

4.2 Domestic Tourism Flows .................................................................................................................................................. 46 4.2.1 Number of Trips by purpose of visit............................................................................................................................................ 46 4.2.2 Overnight stays .......................................................................................................................................................................... 47

4.3 Domestic Tourism Expenditure ........................................................................................................................................ 48 4.3.1 Total domestic tourist expenditure ............................................................................................................................................. 48 4.3.2 Domestic tourist expenditure on accommodation ....................................................................................................................... 49 4.3.3 Domestic tourist expenditure on entertainment and sightseeing ................................................................................................. 50 4.3.4 Domestic tourist expenditure on foodservice .............................................................................................................................. 51 4.3.5 Domestic tourist expenditure on retail ........................................................................................................................................ 52 4.3.6 Domestic tourist expenditure on transportation .......................................................................................................................... 53 4.3.7 Domestic tourist expenditure on travel intermediation ................................................................................................................ 54 4.3.8 Domestic tourist expenditure on other categories ...................................................................................................................... 55 4.3.9 Average expenditure per domestic tourist by category ............................................................................................................... 56

4.4 Domestic Tourism Forecast .............................................................................................................................................. 58 5 Inbound Tourism to South Korea ................................................................................................. 59

5.1 Key Trends and Issues ..................................................................................................................................................... 59 5.1.1 Key trends ................................................................................................................................................................................. 59 5.1.2 Barriers to inbound tourism ........................................................................................................................................................ 59 5.1.3 Tourist attractions ...................................................................................................................................................................... 60

5.2 Inbound Tourism Flows .................................................................................................................................................... 61 5.2.1 International arrivals by region of origin - Africa ......................................................................................................................... 61

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5.2.2 International arrivals by region of origin – Asia Pacific ............................................................................................................... 62 5.2.3 International arrivals by region of origin – Europe ...................................................................................................................... 63 5.2.4 International arrivals by region of origin – Middle East ............................................................................................................... 64 5.2.5 International arrivals by region of origin – North America ........................................................................................................... 65 5.2.6 International arrivals by region of origin – South and Central America ....................................................................................... 66 5.2.7 International arrivals by purpose of visit ..................................................................................................................................... 67

5.3 Inbound tourism Expenditure ............................................................................................................................................ 68 5.3.1 Total expenditure of inbound tourists ......................................................................................................................................... 68 5.3.2 Inbound tourist accommodation expenditure .............................................................................................................................. 69 5.3.3 Inbound tourist expenditure on entertainment and sightseeing................................................................................................... 70 5.3.4 Inbound tourist foodservice expenditure .................................................................................................................................... 71 5.3.5 Inbound tourist retail expenditure ............................................................................................................................................... 72 5.3.6 Inbound tourists transportation expenditure ............................................................................................................................... 73 5.3.7 Inbound tourist travel intermediation expenditure ....................................................................................................................... 74 5.3.8 Inbound tourist expenditure on other categories ........................................................................................................................ 75 5.3.9 Average international tourist expenditure by category ................................................................................................................ 76

5.4 Inbound Tourism Forecast ................................................................................................................................................ 78 6 Outbound Tourism from South Korea.......................................................................................... 79

6.1 Key Trends and Issues ..................................................................................................................................................... 79 6.1.1 Key trends ................................................................................................................................................................................. 79 6.1.2 Barriers to tourism ..................................................................................................................................................................... 79 6.1.3 Tourist attractions ...................................................................................................................................................................... 80

6.2 Outbound Tourism Flows ................................................................................................................................................. 81 6.2.1 International departures to Africa ............................................................................................................................................... 81 6.2.2 International departures to Asia-Pacific ...................................................................................................................................... 82 6.2.3 International departures to Europe ............................................................................................................................................. 83 6.2.4 International departures to the Middle East ................................................................................................................................ 84 6.2.5 International departures to North America .................................................................................................................................. 85 6.2.6 International departures to South and Central America .............................................................................................................. 86 6.2.7 International departures by purpose of visit ................................................................................................................................ 87 6.2.8 Overnight stays on international trips ......................................................................................................................................... 88

6.3 Outbound Tourism Expenditure ........................................................................................................................................ 89 6.3.1 Total spending of outbound tourists ........................................................................................................................................... 89 6.3.2 Spending pattern of outbound tourists on accommodation ......................................................................................................... 90 6.3.3 Spending pattern of outbound tourists on entertainment and sightseeing................................................................................... 91 6.3.4 Spending pattern of outbound tourists on foodservice ................................................................................................................ 92 6.3.5 Spending pattern of outbound tourists on retail .......................................................................................................................... 93 6.3.6 Spending pattern of outbound tourists on transportation ............................................................................................................ 94 6.3.7 Spending pattern of outbound tourists on travel intermediation .................................................................................................. 95 6.3.8 Spending pattern of outbound tourists on other categories ........................................................................................................ 96 6.3.9 Average overseas expenditure per resident by category ............................................................................................................ 97

6.4 Outbound Tourism Forecast ............................................................................................................................................. 99 7 Tourism Economics in South Korea .......................................................................................... 101

7.1 Five-Year Review ........................................................................................................................................................... 101 7.1.1 Value of tourism ....................................................................................................................................................................... 101 7.1.2 Output by category .................................................................................................................................................................. 101 7.1.3 Tourism balance of payments .................................................................................................................................................. 101 7.1.4 Growth drivers ......................................................................................................................................................................... 101

7.2 Tourism Output ............................................................................................................................................................... 103 7.2.1 Total tourism output by category .............................................................................................................................................. 103 7.2.2 Direct tourism output by category ............................................................................................................................................ 105 7.2.3 Indirect tourism output by category .......................................................................................................................................... 107

7.3 Tourism Employment...................................................................................................................................................... 109 7.3.1 Total tourism employment by category .................................................................................................................................... 109 7.3.2 Total tourism employment as a percentage of total employment .............................................................................................. 111 7.3.3 Direct tourism employment by category ................................................................................................................................... 113 7.3.4 Direct tourism employment as a percentage of total employment ............................................................................................ 115 7.3.5 Indirect tourism employment by category ................................................................................................................................. 117 7.3.6 Indirect tourism employment as a percentage of total employment .......................................................................................... 119

7.4 Tourism Output per Employee ........................................................................................................................................ 121 7.4.1 Total tourism output generated per employee by category ....................................................................................................... 121 7.4.2 Direct tourism output generated per employee by category ..................................................................................................... 123

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7.4.3 Indirect tourism output generated per employee by category ................................................................................................... 125 7.5 Tourism Employee Compensation ................................................................................................................................. 127

7.5.1 Average salary by category ..................................................................................................................................................... 127 7.5.2 Total gross income generated by total tourism employment by category.................................................................................. 129

7.6 Five-Year Forecast ......................................................................................................................................................... 131 7.6.1 Value of tourism ....................................................................................................................................................................... 131 7.6.2 Output by category .................................................................................................................................................................. 131 7.6.3 Tourism balance of payments .................................................................................................................................................. 131 7.6.4 Growth drivers ......................................................................................................................................................................... 132

8 Airlines in South Korea ............................................................................................................... 133 8.1 Key Trends and Issues ................................................................................................................................................... 133

8.1.1 Key trends ............................................................................................................................................................................... 133 8.1.2 Market size and forecast .......................................................................................................................................................... 134 8.1.3 Growth drivers ......................................................................................................................................................................... 135

8.2 Key Performance Indicators ........................................................................................................................................... 136 8.2.1 Seats available ........................................................................................................................................................................ 136 8.2.2 Seats sold by carrier type – business travel ............................................................................................................................. 138 8.2.3 Seats sold by carrier type – leisure travel................................................................................................................................. 140 8.2.4 Load factor by carrier type ....................................................................................................................................................... 141 8.2.5 Passenger kilometers available by carrier type ........................................................................................................................ 142 8.2.6 Revenue-generating passenger kilometers by carrier type ....................................................................................................... 143 8.2.7 Revenue per passenger by carrier type ................................................................................................................................... 145 8.2.8 Total revenue by carrier type ................................................................................................................................................... 147

8.3 Competitive Landscape .................................................................................................................................................. 149 8.3.1 Leading players ....................................................................................................................................................................... 149 8.3.2 Major routes ............................................................................................................................................................................ 149 8.3.3 Competitive strategy ................................................................................................................................................................ 150

8.4 Company Profile: Asiana Airlines Inc.............................................................................................................................. 151 8.4.1 Asiana Airlines Inc. – company overview ................................................................................................................................. 151 8.4.2 Asiana Airlines Inc. – business description .............................................................................................................................. 151 8.4.3 Asiana Airlines Inc. – history .................................................................................................................................................... 152 8.4.4 Asiana Airlines Inc. – SWOT analysis ...................................................................................................................................... 153 8.4.5 Asiana Airlines Inc. – strengths ................................................................................................................................................ 153 8.4.6 Asiana Airlines Inc. – weaknesses ........................................................................................................................................... 154 8.4.7 Asiana Airlines Inc. – opportunities .......................................................................................................................................... 154 8.4.8 Asiana Airlines Inc. – threats ................................................................................................................................................... 155 8.4.9 Asiana Airlines Inc. – key competitors ...................................................................................................................................... 156 8.4.10 Asiana Airlines Inc. – key employees ....................................................................................................................................... 156

8.5 Company Profile: Korean Air Lines Co., Ltd ................................................................................................................... 157 8.5.1 Korean Air Lines Co., Ltd – company overview ........................................................................................................................ 157 8.5.2 Korean Air Lines Co., Ltd – business description ..................................................................................................................... 157 8.5.3 Korean Air Lines Co., Ltd – history........................................................................................................................................... 158 8.5.4 Korean Air Lines Co., Ltd – main brands.................................................................................................................................. 159 8.5.5 Korean Air Lines Co., Ltd – SWOT analysis ............................................................................................................................. 159 8.5.6 Korean Air Lines Co., Ltd – strengths ...................................................................................................................................... 160 8.5.7 Korean Air Lines Co., Ltd – weaknesses.................................................................................................................................. 160 8.5.8 Korean Air Lines Co., Ltd – opportunities ................................................................................................................................. 161 8.5.9 Korean Air Lines Co., Ltd – threats .......................................................................................................................................... 162 8.5.10 Korean Air Lines Co., Ltd – key competitors ............................................................................................................................ 163 8.5.11 Korean Air Lines Co., Ltd – key employees ............................................................................................................................. 163

8.6 Company Profile: Jeju Air ............................................................................................................................................... 164 8.6.1 Jeju Air – company overview ................................................................................................................................................... 164 8.6.2 Jeju Air – key competitors ........................................................................................................................................................ 164 8.6.3 Jeju Air – key employees ......................................................................................................................................................... 164

8.7 Company Profile: Air Busan Co., Ltd .............................................................................................................................. 165 8.7.1 Air Busan Co., Ltd – company overview .................................................................................................................................. 165 8.7.2 Air Busan Co., Ltd – key competitors ....................................................................................................................................... 165 8.7.3 Air Busan Co., Ltd – key employees ........................................................................................................................................ 165

8.8 Company Profile: Jin Air Co. Ltd .................................................................................................................................... 166 8.8.1 Jin Air Co. Ltd – company overview ......................................................................................................................................... 166 8.8.2 Jin Air Co. Ltd – key competitors ............................................................................................................................................. 166 8.8.3 Jin Air Co. Ltd – key employees ............................................................................................................................................... 166

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9 Hotels in South Korea ................................................................................................................. 167 9.1 Key Trends and Issues ................................................................................................................................................... 167

9.1.1 Key trends ............................................................................................................................................................................... 167 9.1.2 Market size and forecast .......................................................................................................................................................... 167 9.1.3 Key locations ........................................................................................................................................................................... 169 9.1.4 Growth drivers ......................................................................................................................................................................... 169

9.2 Key Performance Indicators ........................................................................................................................................... 170 9.2.1 Establishments by hotel category ............................................................................................................................................ 170 9.2.2 Available rooms by hotel category ........................................................................................................................................... 172 9.2.3 Room occupancy rate by hotel category .................................................................................................................................. 173 9.2.4 Room nights available by hotel category .................................................................................................................................. 174 9.2.5 Room nights occupied by hotel category.................................................................................................................................. 175 9.2.6 Average revenue per available room by hotel category ............................................................................................................ 176 9.2.7 Revenue per occupied room by hotel category ........................................................................................................................ 178 9.2.8 Total revenue per available room by hotel category ................................................................................................................. 179 9.2.9 Total revenue by hotel category and customer type ................................................................................................................. 180 9.2.10 Guests by hotel category and customer type ........................................................................................................................... 183

9.3 Competitive Landscape .................................................................................................................................................. 185 9.3.1 Leading companies.................................................................................................................................................................. 185 9.3.2 Brand presence in key locations .............................................................................................................................................. 185 9.3.3 Competitive strategy ................................................................................................................................................................ 185

9.4 Company Profile: JW Marriott Hotel Seoul ..................................................................................................................... 186 9.4.1 JW Marriott Hotel Seoul – company overview .......................................................................................................................... 186 9.4.2 JW Marriott Hotel Seoul – key competitors .............................................................................................................................. 186 9.4.3 JW Marriott Hotel Seoul – key employees ................................................................................................................................ 186

9.5 Company Profile: Park Hyatt Seoul ................................................................................................................................ 187 9.5.1 Park Hyatt Seoul – company overview ..................................................................................................................................... 187 9.5.2 Park Hyatt Seoul – key competitors ......................................................................................................................................... 187 9.5.3 Park Hyatt Seoul – key employees .......................................................................................................................................... 187

9.6 Company Profile: Lotte Hotel Seoul ............................................................................................................................... 188 9.6.1 Lotte Hotel Seoul – company overview .................................................................................................................................... 188 9.6.2 Lotte Hotel Seoul – key competitors ......................................................................................................................................... 188 9.6.3 Lotte Hotel Seoul – key employees .......................................................................................................................................... 188

9.7 Company Profile: The Westin Chosun Seoul ................................................................................................................. 189 9.7.1 The Westin Chosun Seoul – company overview ...................................................................................................................... 189 9.7.2 The Westin Chosun Seoul – key competitors ........................................................................................................................... 189 9.7.3 The Westin Chosun Seoul – key employees ............................................................................................................................ 189

9.8 Company Profile: Hotel Shilla Co., Ltd ........................................................................................................................... 190 9.8.1 Hotel Shilla Co., Ltd – company overview ................................................................................................................................ 190 9.8.2 Hotel Shilla Co., Ltd – key competitors .................................................................................................................................... 190 9.8.3 Hotel Shilla Co., Ltd – key employees ...................................................................................................................................... 190

10 Car Rental in South Korea .......................................................................................................... 191 10.1 Key Trends and Issues ................................................................................................................................................... 191

10.1.1 Key trends ............................................................................................................................................................................... 191 10.1.2 Market size and forecast .......................................................................................................................................................... 191 10.1.3 Key locations ........................................................................................................................................................................... 192 10.1.4 Growth drivers ......................................................................................................................................................................... 192

10.2 Key Performance Indicators ........................................................................................................................................... 193 10.2.1 Market value by customer type and rental location .................................................................................................................. 193 10.2.2 Fleet size ................................................................................................................................................................................. 195 10.2.3 Rental occasions ..................................................................................................................................................................... 196 10.2.4 Rental days ............................................................................................................................................................................. 197 10.2.5 Average rental length ............................................................................................................................................................... 197 10.2.6 Utilization rate .......................................................................................................................................................................... 199 10.2.7 Average revenue per day......................................................................................................................................................... 200

10.3 Competitive Landscape .................................................................................................................................................. 201 10.3.1 Leading companies.................................................................................................................................................................. 201 10.3.2 Brand presence in key locations .............................................................................................................................................. 201 10.3.3 Competitive strategy ................................................................................................................................................................ 201

10.4 Company Profile: KT Kumho Rent a Car ........................................................................................................................ 202 10.4.1 KT Kumho Rent a Car – company overview ............................................................................................................................ 202 10.4.2 KT Kumho Rent a Car – key competitors ................................................................................................................................. 202

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10.4.3 KT Kumho Rent a Car – key employees .................................................................................................................................. 202 10.5 Company Profile: Aju Avis Co., Ltd ................................................................................................................................ 203

10.5.1 Aju Avis Co, Ltd – company overview ...................................................................................................................................... 203 10.5.2 Aju Avis Co., Ltd – key competitors.......................................................................................................................................... 203 10.5.3 Aju Avis Co., Ltd – key employees ........................................................................................................................................... 203

10.6 Company Profile: Sixt Rent a Car (South Korea) ........................................................................................................... 204 10.6.1 Sixt Rent a Car (South Korea) – company overview ................................................................................................................ 204 10.6.2 Sixt Rent a Car (Korea) – key competitors ............................................................................................................................... 204 10.6.3 Sixt Rent a Car (Korea) – key employees ................................................................................................................................ 204

10.7 Company Profile: Rent a Car 365.com (South Korea) .................................................................................................... 205 10.7.1 Rent a Car 365.com (South Korea) – company overview ......................................................................................................... 205 10.7.2 Rent a Car 365.com (South Korea) – key competitors ............................................................................................................. 205

10.8 Company Profile: Car Rental Korea ............................................................................................................................... 206 10.8.1 Car Rental Korea – company overview .................................................................................................................................... 206 10.8.2 Car Rental Korea – key competitors ........................................................................................................................................ 206

11 Travel Intermediaries in South Korea......................................................................................... 207 11.1 Key Trends and Issues ................................................................................................................................................... 207

11.1.1 Key trends ............................................................................................................................................................................... 207 11.1.2 Market size and forecast .......................................................................................................................................................... 208 11.1.3 Online vs in-store ..................................................................................................................................................................... 209 11.1.4 Growth drivers ......................................................................................................................................................................... 209

11.2 Key Performance Indicators ........................................................................................................................................... 210 11.2.1 Market value by product type ................................................................................................................................................... 210 11.2.2 Online revenues by type of intermediary or provider ................................................................................................................ 212 11.2.3 Online revenues by type of tourist ............................................................................................................................................ 214 11.2.4 In-store revenues by type of intermediary ................................................................................................................................ 216 11.2.5 In-store-revenues by type of tourist .......................................................................................................................................... 218 11.2.6 Travel agent revenues from domestic tourism, by sales channel ............................................................................................. 220 11.2.7 Travel agent revenues from international tourism by sales channel ......................................................................................... 222 11.2.8 Tour operator revenues from domestic tourism, by sales channel ............................................................................................ 224 11.2.9 Tour operator revenues from international tourism, by sales channel ....................................................................................... 226 11.2.10 Other intermediaries revenues from domestic tourism, by sales channel ................................................................................. 228 11.2.11 Other intermediaries revenues from international tourism by sales channel ............................................................................. 230

11.3 Competitive Landscape .................................................................................................................................................. 232 11.3.1 Leading players ....................................................................................................................................................................... 232 11.3.2 Competitive strategy ................................................................................................................................................................ 232

11.4 Company Profile: Modetour Network Inc. ....................................................................................................................... 233 11.4.1 Modetour Network Inc. – company overview ............................................................................................................................ 233 11.4.2 Modetour Network Inc. – key competitors ................................................................................................................................ 233 11.4.3 Modetour Network Inc. – key employees ................................................................................................................................. 233

11.5 Company Profile: Hana Tour Service Inc. ...................................................................................................................... 234 11.5.1 Hana Tour Service Inc. – company overview ........................................................................................................................... 234 11.5.2 Hana Tour Service Inc. – key competitors ................................................................................................................................ 234 11.5.3 Modetour Network Inc. – key employees ................................................................................................................................. 235

11.6 Company Profile: JaUtour Co., Ltd ................................................................................................................................. 236 11.6.1 JaUtour Co., Ltd – company overview ..................................................................................................................................... 236 11.6.2 JaUtour Co., Ltd – key competitors .......................................................................................................................................... 236 11.6.3 JaUtour Co., Ltd – key employees ........................................................................................................................................... 236

11.7 Company Profile: Four Seasons Tours & Travel Inc. ..................................................................................................... 237 11.7.1 Four Seasons Tours & Travel Inc. – company overview........................................................................................................... 237 11.7.2 Four Seasons Tours & Travel Inc. – key competitors ............................................................................................................... 237 11.7.3 Four Seasons Tours & Travel Inc. – key employees ................................................................................................................ 237

11.8 Company Profile: Bridge Travel Co., Ltd ........................................................................................................................ 238 11.8.1 Bridge Travel Co., Ltd – company overview ............................................................................................................................. 238 11.8.2 Bridge Travel Co., Ltd – key competitors ................................................................................................................................. 238 11.8.3 Bridge Travel Co., Ltd – key employees................................................................................................................................... 238

12 Appendix ...................................................................................................................................... 239 12.1 Methodology ................................................................................................................................................................... 239 12.2 Contact Us ...................................................................................................................................................................... 239 12.3 About Timetric ................................................................................................................................................................ 239 12.4 Disclaimer ....................................................................................................................................................................... 240

LIST OF TABLES




LIST OF TABLES

Table 1: Timetric Travel and Tourism Industry Definitions ..................................................................................................................... 16 Table 2: South Korea – Typical Holiday Entitlement per Annum .......................................................................................................... 29 Table 3: South Korea – Total Population by Age (Million), 2007–2016 .................................................................................................. 29 Table 4: South Korea – Total Male Population by Age (Million), 2007–2016 ......................................................................................... 31 Table 5: South Korea – Total Female Population by Age (Million), 2007–2016 ..................................................................................... 32 Table 6: South Korea – Number of Households (Million), 2007–2011 ................................................................................................... 33 Table 7: South Korea – Number of Households (Million), 2011–2016 ................................................................................................... 33 Table 8: South Korea – Mean Household Income (US$), 2007–2011 ................................................................................................... 33 Table 9: South Korea – Mean Household Income (US$), 2011–2016 ................................................................................................... 33 Table 10: South Korea – Number of Trips by Season (Million), 2007–2011 .......................................................................................... 35 Table 11: South Korea – Number of Trips by Season (Million), 2011–2016 .......................................................................................... 35 Table 12: South Korea – Number of Trips by Residents (Million), 2007–2011 ....................................................................................... 36 Table 13: South Korea – Number of Trips by Residents (Million), 2011–2016 ....................................................................................... 36 Table 14: South Korea – Average Length of Tourism Trip, 2007–2011 ................................................................................................. 37 Table 15: South Korea – Average Length of Tourism Trip (Nights), 2011–2016 .................................................................................... 37 Table 16: South Korea – Average National Tourism Expenditure (KRW), 2007–2011 .......................................................................... 38 Table 17: South Korea – Average National Tourism Expenditure (KRW), 2011–2016 .......................................................................... 38 Table 18: South Korea – Resident Income Expenditure on Tourism (%), 2007–2011 ........................................................................... 39 Table 19: South Korea – Resident Income Expenditure on Tourism (%), 2011–2016 ........................................................................... 39 Table 20: South Korea – Total Tourism Expenditure by Tourist Destination (KRW Billion), 2007–2011 ................................................ 40 Table 21: South Korea – Total Tourism Expenditure by Tourist Destination (KRW Billion), 2011–2016 ................................................ 41 Table 22: South Korea – Total Tourism Expenditure by Category (KRW Billion), 2007–2011 ............................................................... 42 Table 23: South Korea – Total Tourism Expenditure by Category (KRW Billion), 2011–2016 ............................................................... 42 Table 24: South Korea – Number of Trips by Type (Million), 2007–2011 .............................................................................................. 46 Table 25: South Korea – Number of Trips by Type (Million), 2011–2016 .............................................................................................. 46 Table 26: South Korea – Overnight Stays by Type (Million), 2007–2011 ............................................................................................... 47 Table 27: South Korea – Overnight Stays by Type (Million), 2011–2016 ............................................................................................... 47 Table 28: South Korea – Domestic Tourism Expenditure (KRW Billion), 2007–2011 ............................................................................ 48 Table 29: South Korea – Domestic Tourism Expenditure (KRW Billion), 2011–2016 ............................................................................ 48 Table 30: South Korea – Domestic Tourist Accommodation Expenditure (KRW Billion), 2007–2011 .................................................... 49 Table 31: South Korea – Domestic Tourist Accommodation Expenditure (KRW Billion), 2011–2016 .................................................... 49 Table 32: South Korea – Domestic Tourist Entertainment and Sightseeing Expenditure (KRW Million), 2007–2011 ............................. 50 Table 33: South Korea – Domestic Tourist Entertainment and Sightseeing Expenditure (KRW Million), 2011–2016 ............................. 50 Table 34: South Korea – Domestic Tourist Foodservice Expenditure (KRW Billion), 2007–2011 .......................................................... 51 Table 35: South Korea – Domestic Tourist Foodservice Expenditure (KRW Billion), 2011–2016 .......................................................... 51 Table 36: South Korea – Domestic Tourist Retail Expenditure (KRW Billion), 2007–2011 .................................................................... 52 Table 37: South Korea – Domestic Tourist Retail Expenditure (KRW Billion), 2011–2016 .................................................................... 52 Table 38: South Korea – Domestic Tourist Transportation Expenditure (KRW Billion), 2007–2011 ....................................................... 53 Table 39: South Korea – Domestic Tourist Transportation Expenditure (KRW Billion), 2011–2016 ....................................................... 53 Table 40: South Korea – Domestic Tourist Travel Intermediation Expenditure (KRW Billion), 2007–2011............................................. 54 Table 41: South Korea – Domestic Tourist Travel Intermediation Expenditure (KRW Billion), 2011–2016............................................. 54 Table 42: South Korea – Domestic Tourist Expenditure on Other Categories (KRW Billion), 2007–2011 .............................................. 55 Table 43: South Korea – Domestic Tourist Expenditure on Other Categories (KRW Billion), 2011–2016 .............................................. 55 Table 44: South Korea – Average Expenditure per Domestic Tourist by Category (KRW), 2007–2011 ................................................. 56 Table 45: South Korea – Average Expenditure per Domestic Tourist by Category (KRW), 2011–2016 ................................................. 56 Table 46: South Korea – International Arrivals from Africa (Thousands), 2007–2011 ............................................................................ 61 Table 47: South Korea – International Arrivals from Africa (Thousands), 2011–2016 ............................................................................ 61 Table 48: South Korea – International Arrivals from Asia-Pacific (Million), 2007–2011 .......................................................................... 62 Table 49: South Korea – International Arrivals from Asia-Pacific (Million), 2011–2016 .......................................................................... 62 Table 50: South Korea – International Arrivals from Europe (Thousands), 2007–2011 ......................................................................... 63 Table 51: South Korea – International Arrivals from Europe (Thousands), 2011–2016 ......................................................................... 63 Table 52: South Korea – International Arrivals from the Middle East (Thousand), 2007–2011 .............................................................. 64 Table 53: South Korea – International Arrivals from the Middle East (Thousand), 2011–2016 .............................................................. 64 Table 54: South Korea – International Arrivals from North America (Thousand), 2007–2011 ................................................................ 65 Table 55: South Korea – International Arrivals from North America (Thousand), 2011–2016 ................................................................ 65 Table 56: South Korea – International Arrivals from South and Central America (Thousand), 2007–2011 ............................................ 66 Table 57: South Korea – International Arrivals from South and Central America (Thousand), 2011–2016 ............................................ 66 Table 58: South Korea – International Arrivals by Purpose of Visit (Thousand), 2007–2011 ................................................................. 67 Table 59: South Korea – International Arrivals by Purpose of Visit (Thousand), 2011–2016 ................................................................. 67 Table 60: South Korea – Inbound Tourist Expenditure (KRW Billion), 2007–2011 ................................................................................ 68 Table 61: South Korea – Inbound Tourist Expenditure (KRW Billion), 2011–2016 ................................................................................ 68 Table 62: South Korea – Inbound Tourist Expenditure on Accommodation (KRW Billion), 2007–2011 ................................................. 69

LIST OF TABLES




Table 63: South Korea – Inbound Tourist Expenditure on Accommodation (KRW Billion), 2011–2016 ................................................. 69 Table 64: South Korea – Inbound Tourist Expenditure on Entertainment and Sightseeing (KRW Billion), 2007–2011 .......................... 70 Table 65: South Korea – Inbound Tourist Expenditure on Entertainment and Sightseeing (KRW Billion), 2011–2016 .......................... 70 Table 66: South Korea – Inbound Tourist Expenditure on Foodservice (KRW Billion), 2007–2011 ....................................................... 71 Table 67: South Korea – Inbound Tourist Expenditure on Foodservice (KRW Billion), 2011–2016 ....................................................... 71 Table 68: South Korea – Inbound Tourist Expenditure on Retail (KRW Billion), 2007–2011.................................................................. 72 Table 69: South Korea – Inbound Tourist Expenditure on Retail (KRW Billion), 2011–2016.................................................................. 72 Table 70: South Korea – Inbound Tourist Expenditure on Transportation (KRW Billion), 2007–2011 .................................................... 73 Table 71: South Korea – Inbound Tourist Expenditure on Transportation (KRW Billion), 2011–2016 .................................................... 73 Table 72: South Korea – Inbound Tourist Expenditure on Travel Intermediation (KRW Million), 2007–2011 ......................................... 74 Table 73: South Korea – Inbound Tourist Expenditure on Travel Intermediation (KRW Million), 2011–2016 ......................................... 74 Table 74: South Korea – Inbound Tourist Expenditure on Other Categories (KRW Million), 2007–2011 ............................................... 75 Table 75: South Korea – Inbound Tourist Expenditure on Other Categories (KRW Million), 2011–2016 ............................................... 75 Table 76: South Korea – Average Expenditure per Inbound Tourist by Category (KRW), 2007–2011 ................................................... 76 Table 77: South Korea – Average Expenditure per Inbound Tourist by Category (KRW), 2011–2016 ................................................... 76 Table 78: South Korea – International Departures to Africa (Thousand), 2007–2011 ............................................................................ 81 Table 79: South Korea – International Departures to Africa (Thousand), 2011–2016 ............................................................................ 81 Table 80: South Korea – International Departures to Asia-Pacific (Million), 2007–2011 ........................................................................ 82 Table 81: South Korea – International Departures to Asia-Pacific (Million), 2011–2016 ........................................................................ 82 Table 82: South Korea – International Departures to Europe (Thousand), 2007–2011.......................................................................... 83 Table 83: South Korea – International Departures to Europe (Thousand), 2011–2016.......................................................................... 83 Table 84: South Korea – International Departures to the Middle East (Thousand), 2007–2011 ............................................................. 84 Table 85: South Korea – International Departures to the Middle East (Thousand), 2011–2016 ............................................................. 84 Table 86: South Korea – International Departures to North America (Thousand), 2007–2011 .............................................................. 85 Table 87: South Korea – International Departures to North America (Thousand), 2011–2016 .............................................................. 85 Table 88: South Korea – International Departures to South and Central America (Thousand), 2007–2011 ........................................... 86 Table 89: South Korea – International Departures to South and Central America (Thousand), 2011–2016 ........................................... 86 Table 90: South Korea – International Departures by Purpose of Visit (Thousand), 2007–2011 ........................................................... 87 Table 91: South Korea – International Departures by Purpose of Visit (Thousand), 2011–2016 ........................................................... 87 Table 92: South Korea – Overnight Stays on International Trips (Million), 2007–2011 .......................................................................... 88 Table 93: South Korea – Overnight Stays on International Trips (Million), 2011–2016 .......................................................................... 88 Table 94: South Korea – Outbound Tourism Expenditure (KRW Billion), 2007–2011 ............................................................................ 89 Table 95: South Korea – Outbound Tourism Expenditure (KRW Billion), 2011–2016 ............................................................................ 89 Table 96: South Korea – Outbound Tourism Expenditure on Accommodation (KRW Billion), 2007–2011 ............................................. 90 Table 97: South Korea – Outbound Tourism Expenditure on Accommodation (KRW Billion), 2011–2016 ............................................. 90 Table 98: South Korea – Outbound Tourism Expenditure on Entertainment and Sightseeing (KRW Million), 2007–2011 ..................... 91 Table 99: South Korea – Outbound Tourism Expenditure on Entertainment and Sightseeing (KRW Million), 2011–2016 ..................... 91 Table 100: South Korea – Outbound Tourism Expenditure on Foodservice (KRW Billion), 2007–2011 ................................................. 92 Table 101: South Korea – Outbound Tourism Expenditure on Foodservice (KRW Billion), 2011–2016 ................................................. 92 Table 102: South Korea – Outbound Tourism Expenditure on Retail (KRW Billion), 2007–2011 ........................................................... 93 Table 103: South Korea – Outbound Tourism Expenditure on Retail (KRW Billion), 2011–2016 ........................................................... 93 Table 104: South Korea – Outbound Tourism Expenditure on Transportation (KRW Billion), 2007–2011 ............................................. 94 Table 105: South Korea – Outbound Tourism Expenditure on Transportation (KRW Billion), 2011–2016 ............................................. 94 Table 106: South Korea – Outbound Tourism Expenditure on Travel Intermediation (KRW Billion), 2007–2011 ................................... 95 Table 107: South Korea – Outbound Tourism Expenditure on Travel Intermediation (KRW Billion), 2011–2016 ................................... 95 Table 108: South Korea – Outbound Tourism Expenditure on Other Categories (KRW Billion), 2007–2011 ......................................... 96 Table 109: South Korea – Outbound Tourism Expenditure on Other Categories (KRW Billion), 2011–2016 ......................................... 96 Table 110: South Korea – Average Overseas Expenditure per Resident by Category (KRW Thousand), 2007–2011 ........................... 97 Table 111: South Korea – Average Overseas Expenditure per Resident by Category (KRW Thousand), 2011–2016 ........................... 97 Table 112: South Korea – Total Tourism Output by Category (KRW Billion), 2007–2011 .................................................................... 103 Table 113: South Korea – Total Tourism Output by Category (KRW Billion), 2011–2016 .................................................................... 104 Table 114: South Korea – Direct Tourism Output by Category (KRW Billion), 2007–2011 .................................................................. 105 Table 115: South Korea – Direct Tourism Output by Category (KRW Billion), 2011–2016 .................................................................. 105 Table 116: South Korea – Indirect Tourism Output by Category (KRW Billion), 2007–2011 ................................................................ 107 Table 117: South Korea – Indirect Tourism Output by Category (KRW Billion), 2011–2016 ................................................................ 107 Table 118: South Korea – Total Tourism Employment by Category (Thousand), 2007–2011 .............................................................. 109 Table 119: South Korea – Total Tourism Employment by Category (Thousand), 2011–2016 .............................................................. 109 Table 120: South Korea – Total Tourism Employment as a Percentage of Total Employment by Category (%), 2007–2011 .............. 111 Table 121: South Korea – Total Tourism Employment as a Percentage of Total Employment by Category (%), 2011–2016 .............. 111 Table 122: South Korea – Direct Tourism Employment by Category (Thousand), 2007–2011 ............................................................ 113 Table 123: South Korea – Direct Tourism Employment by Category (Thousand), 2011–2016 ............................................................ 113 Table 124: South Korea – Direct Tourism Employment as a Percentage of Total Employment by Category (%), 2007–2011 ............. 115 Table 125: South Korea – Direct Tourism Employment as a Percentage of Total Employment by Category (%), 2011–2016 ............. 115 Table 126: South Korea – Indirect Tourism Employment by Category (Thousand), 2007–2011 .......................................................... 117

LIST OF TABLES




Table 127: South Korea – Indirect Tourism Employment by Category (Thousand), 2011–2016 .......................................................... 117 Table 128: South Korea – Indirect Tourism Employment as a Percentage of Total Employment by Category (%), 2007–2011 ........... 119 Table 129: South Korea – Indirect Tourism Employment as a Percentage of Total Employment by Category (%), 2011–2016 ........... 119 Table 130: South Korea – Total Tourism Output Generated per Employee by Category (KRW Million), 2007–2011 ........................... 121 Table 131: South Korea – Total Tourism Output Generated per Employee by Category (KRW Million), 2011–2016 ........................... 121 Table 132: South Korea – Direct Tourism Output Generated per Employee by Category (KRW Million), 2007–2011 ......................... 123 Table 133: South Korea – Direct Tourism Output Generated per Employee by Category (KRW Million), 2011–2016 ......................... 123 Table 134: South Korea – Indirect Tourism Output Generated per Employee by Category (KRW Million), 2007–2011 ....................... 125 Table 135: South Korea – Indirect Tourism Output Generated per Employee by Category (KRW Million), 2011–2016 ....................... 125 Table 136: South Korea – Average Salary per Employee by Category (KRW Million), 2007–2011 ..................................................... 127 Table 137: South Korea – Average Salary per Employee by Category (KRW Million), 2011–2016 ..................................................... 127 Table 138: South Korea – Gross Income Generated by Total Tourism Employment by Category (KRW Billion), 2007–2011 .............. 129 Table 139: South Korea – Gross Income Generated by Total Tourism Employment by Category (KRW Billion), 2011–2016 .............. 129 Table 140: South Korea – Seats Available by Carrier Type (Million), 2007–2011 ................................................................................ 136 Table 141: South Korea – Seats Available by Carrier Type (Million), 2011–2016 ................................................................................ 136 Table 142: South Korea – Seats Sold by Carrier Type – Business Travel (Thousand), 2007–2011 .................................................... 138 Table 143: South Korea – Seats Sold by Carrier Type – Business Travel (Thousand), 2011–2016 .................................................... 138 Table 144: South Korea – Seats Sold by Carrier Type – Leisure Travel (Thousand), 2007–2011 ....................................................... 140 Table 145: South Korea – Seats Sold by Carrier Type – Leisure Travel (Thousand), 2011–2016 ....................................................... 140 Table 146: South Korea – Load Factor by Carrier Type (%), 2007–2011 ............................................................................................ 141 Table 147: South Korea – Load Factor by Carrier Type (%), 2011–2016 ............................................................................................ 141 Table 148: South Korea – Passenger Kilometers Available by Carrier Type (Billion), 2007–2011 ....................................................... 142 Table 149: South Korea – Passenger Kilometers Available by Carrier Type (Billion), 2011–2016 ....................................................... 142 Table 150: South Korea – Revenue Generating Passenger Kilometers by Carrier Type (Billion), 2007–2011 ..................................... 143 Table 151: South Korea – Revenue Generating Passenger Kilometers by Carrier Type (Billion), 2011–2016 ..................................... 143 Table 152: South Korea – Revenue per Passenger by Carrier Type (KRW Thousand), 2007–2011 ................................................... 145 Table 153: South Korea – Revenue per Passenger by Carrier Type (KRW Thousand), 2011–2016 ................................................... 145 Table 154: South Korea – Total Revenue by Carrier Type (KRW Billion), 2007–2011......................................................................... 147 Table 155: South Korea – Total Revenue by Carrier Type (KRW Billion), 2011–2016......................................................................... 147 Table 156: Asiana Airlines Inc., Key Facts .......................................................................................................................................... 151 Table 157: Asiana Airlines Inc., History............................................................................................................................................... 152 Table 158: Asiana Airlines Inc., Key Employees ................................................................................................................................. 156 Table 159: Korean Air Lines Co., Ltd, Key Facts ................................................................................................................................ 157 Table 160: Asiana Airlines Inc., History............................................................................................................................................... 158 Table 161: Korean Air Lines Co., Ltd Main Brands ............................................................................................................................. 159 Table 162: Korean Air Lines Co., Key Employees............................................................................................................................... 163 Table 163: Jeju Air, Key Facts ............................................................................................................................................................ 164 Table 164: Jeju Air, Key Employees ................................................................................................................................................... 164 Table 165: Air Busan Co., Ltd, Key Facts ........................................................................................................................................... 165 Table 166: Air Busan Co., Ltd, Key Employees .................................................................................................................................. 165 Table 167: Jin Air Co. Ltd, Key Facts .................................................................................................................................................. 166 Table 168: Jin Air Co. Ltd, Key Employees ......................................................................................................................................... 166 Table 169: South Korea – Hotel Establishments by Category, 2007–2011 ......................................................................................... 170 Table 170: South Korea – Hotel Establishments by Category, 2011–2016 ......................................................................................... 170 Table 171: South Korea – Available Hotel Rooms by Hotel Category (Units), 2007–2011 .................................................................. 172 Table 172: South Korea – Available Hotel Rooms by Hotel Category (Units), 2011–2016 .................................................................. 172 Table 173: South Korea – Hotel Room Occupancy Rate by Hotel Category (%), 2007–2011 ............................................................. 173 Table 174: South Korea – Hotel Room Occupancy Rate by Hotel Category (%), 2011–2016 ............................................................. 173 Table 175: South Korea – Room Nights Available by Hotel Category (Million), 2007–2011 ................................................................ 174 Table 176: South Korea – Room Nights Available by Hotel Category (Million), 2011–2016 ................................................................ 174 Table 177: South Korea – Room Nights Occupied by Hotel Category (Million), 2007–2011 ................................................................ 175 Table 178: South Korea – Room Nights Occupied by Hotel Category (Million), 2011–2016 ................................................................ 175 Table 179: South Korea – Average Revenue per Available Room by Hotel Category (KRW), 2007–2011 .......................................... 176 Table 180: South Korea – Average Revenue per Available Room by Hotel Category (KRW), 2011–2016 .......................................... 176 Table 181: South Korea – Revenue per Occupied Room by Hotel Category (KRW), 2007–2011........................................................ 178 Table 182: South Korea – Revenue per Occupied Room by Hotel Category (KRW), 2011–2016........................................................ 178 Table 183: South Korea – Total Revenue Per Available Room by Hotel Category (KRW), 2007–2011 ............................................... 179 Table 184: South Korea – Total Revenue Per Available Room by Hotel Category (KRW), 2011–2016 ............................................... 179 Table 185: South Korea – Total Hotel Revenue by Hotel Category and Customer Type (KRW Billion), 2007–2011 ............................ 180 Table 186: South Korea – Total Hotel Revenue by Hotel Category and Customer Type (US$ Million), 2007–2011 ............................ 180 Table 187: South Korea – Total Hotel Revenue by Hotel Category and Customer Type (KRW Billion), 2011–2016 ............................ 181 Table 188: South Korea – Total Hotel Revenue by Hotel Category and Customer Type (US$ Million), 2011–2016 ............................ 181 Table 189: South Korea – Guests by Hotel Category and Customer Type (Thousand), 2007–2011 ................................................... 183 Table 190: South Korea – Guests by Hotel Category and Customer Type (Thousand), 2011–2016 ................................................... 183

LIST OF TABLES




Table 191: JW Marriott Hotel Seoul, Key Facts ................................................................................................................................... 186 Table 192: JW Marriott Hotel Seoul, Key Employees .......................................................................................................................... 186 Table 193: Park Hyatt Seoul, Key Facts ............................................................................................................................................. 187 Table 194: Park Hyatt Seoul, Key Employees ..................................................................................................................................... 187 Table 195: Lotte Hotel Seoul, Key Facts ............................................................................................................................................. 188 Table 196: Grupo Empresarial Angeles, S.A. de C.V., Key Employees ............................................................................................... 188 Table 197: The Westin Chosun Seoul, Key Facts ............................................................................................................................... 189 Table 198: The Westin Chosun Seoul, Key Employees ...................................................................................................................... 189 Table 199: Hotel Shilla Co., Ltd, Key Facts ......................................................................................................................................... 190 Table 200: Hotel Shilla Co., Ltd, Key Employees ................................................................................................................................ 190 Table 201: South Korea – Car Rental Market Value by Customer Type and Rental Location (KRW Billion), 2007–2011 .................... 193 Table 202: South Korea – Car Rental Market Value by Customer Type and Rental Location (KRW Billion), 2011–2016 .................... 194 Table 203: South Korea – Car Rental Fleet Size (Actual), 2007–2011 ................................................................................................ 195 Table 204: South Korea – Car Rental Fleet Size (Actual), 2011–2016 ................................................................................................ 195 Table 205: South Korea – Car Rental, Rental Occasions (Million), 2007–2011 ................................................................................... 196 Table 206: South Korea – Car Rental, Rental Occasions (Million), 2011–2016 ................................................................................... 196 Table 207: South Korea – Car Rental, Rental Days (Million), 2007–2011 ........................................................................................... 197 Table 208: South Korea – Car Rental, Rental Days (Million), 2011–2016 ........................................................................................... 197 Table 209: South Korea – Car Rental, Average Rental Length (Days), 2007–2011 ............................................................................ 197 Table 210: South Korea – Car Rental, Average Rental Length (Days), 2011–2016 ............................................................................ 197 Table 211: South Korea – Car Rental, Market Utilization Rate (%), 2007–2011 .................................................................................. 199 Table 212: South Korea – Car Rental, Market Utilization Rate (%), 2011–2016 .................................................................................. 199 Table 213: South Korea – Car Rental Average Revenue per Day (KRW), 2007–2011 ........................................................................ 200 Table 214: South Korea – Car Rental Average Revenue per Day (KRW), 2011–2016 ........................................................................ 200 Table 215: KT Kumho Rent a Car, Key Facts ..................................................................................................................................... 202 Table 216: KT Kumho Rent a Car, Key Employees ............................................................................................................................ 202 Table 217: Aju Avis Co., Ltd, Key Facts .............................................................................................................................................. 203 Table 218: Aju Avis Co., Ltd, Key Employees ..................................................................................................................................... 203 Table 219: Sixt Rent a Car (South Korea), Key Facts ......................................................................................................................... 204 Table 220: Sixt Rent a Car (Korea), Key Employees .......................................................................................................................... 204 Table 221: Rent a Car 365.com (South Korea), Key Facts ................................................................................................................. 205 Table 222: Car Rental South Korea, Key Facts .................................................................................................................................. 206 Table 223: South Korea – Travel Intermediaries Market Value by Product Type (KRW Billion), 2007–2011 ....................................... 210 Table 224: South Korea – Travel Intermediaries Market Value by Product Type (KRW Billion), 2011–2016 ....................................... 211 Table 225: South Korea – Travel Intermediaries Online Revenues by Provider (KRW Billion), 2007–2011 ......................................... 212 Table 226: South Korea – Travel Intermediaries Online Revenues by Provider (KRW Billion), 2011–2016 ......................................... 212 Table 227: South Korea – Travel Intermediaries Online Revenues by Type of Tourist (KRW Billion), 2007–2011............................... 214 Table 228: South Korea – Travel Intermediaries Online Revenues by Type of Tourist (KRW Billion), 2011–2016............................... 214 Table 229: South Korea – Travel Intermediaries In-Store Revenues by Provider (KRW Billion), 2007–2011....................................... 216 Table 230: South Korea – Travel Intermediaries In-Store Revenues by Provider (KRW Billion), 2011–2016....................................... 216 Table 231: South Korea – Travel Intermediaries In-Store Revenues by Type of Tourist (KRW Billion), 2007–2011 ............................ 218 Table 232: South Korea – Travel Intermediaries In-Store Revenues by Type of Tourist (KRW Billion), 2011–2016 ............................ 218 Table 233: South Korea – Travel Agent Revenues from Domestic Tourism by Sales Channel (KRW Billion), 2007–2011 .................. 220 Table 234: South Korea – Travel Agent Revenues from Domestic Tourism by Sales Channel (KRW Billion), 2011–2016 .................. 220 Table 235: South Korea – Travel Agent Revenues from International Tourism by Sales Channel (KRW Billion), 2007–2011 ............. 222 Table 236: South Korea – Travel Agent Revenues from International Tourism by Sales Channel (KRW Billion), 2011–2016 ............. 222 Table 237: South Korea – Tour Operator Revenues from Domestic Tourism by Sales Channel (KRW Billion), 2007–2011 ................ 224 Table 238: South Korea – Tour Operator Revenues from Domestic Tourism by Sales Channel (KRW Billion), 2011–2016 ................ 224 Table 239: South Korea – Tour Operator Revenues from International Tourism by Sales Channel (KRW Billion), 2007–2011 ........... 226 Table 240: South Korea – Tour Operator Revenues from International Tourism by Sales Channel (KRW Billion), 2011–2016 ........... 226 Table 241: South Korea – Other Intermediaries Revenues from Domestic Tourism by Sales Channel (KRW Billion), 2007–2011 ...... 228 Table 242: South Korea – Other Intermediaries Revenues from Domestic Tourism by Sales Channel (KRW Billion), 2011–2016 ...... 228 Table 243: South Korea – Other Intermediaries Revenues from International Tourism by Sales Channel (KRW Billion), 2007–2011 . 230 Table 244: South Korea – Other Intermediaries Revenues from International Tourism by Sales Channel (KRW Billion), 2011–2016 . 230 Table 245: Modetour Network Inc., Key Facts .................................................................................................................................... 233 Table 246: Modetour Network Inc., Key Employees ............................................................................................................................ 233 Table 247: Hana Tour Service Inc., Key Facts .................................................................................................................................... 234 Table 248: Modetour Network Inc., Key Employees ............................................................................................................................ 235 Table 249: JaUtour Co., Ltd, Key Facts .............................................................................................................................................. 236 Table 250: JaUtour Co., Ltd, Key Employees ..................................................................................................................................... 236 Table 251: Four Seasons Tours & Travel Inc., Key Facts ................................................................................................................... 237 Table 252: Four Seasons Tours & Travel Inc., Key Employees .......................................................................................................... 237 Table 253: Bridge Travel Co., Ltd, Key Facts ...................................................................................................................................... 238 Table 254: Bridge Travel Co., Ltd, Key Employees ............................................................................................................................. 238

LIST OF FIGURES




LIST OF FIGURES

Figure 1: South Korea – Travel and Tourism Category – SWOT Analysis 26 Figure 2: South Korea – Total Population by Age (%), 2011 30 Figure 3: South Korea – Total Male Population by Age (%), 2011 31 Figure 4: South Korea – Total Female Population by Age (%), 2011 32 Figure 5: South Korea – No. of Households (Million) vs Mean Household income (US$) 2007–2016 34 Figure 6: South Korea – Number of Trips by Season (Million), 2007–2016 35 Figure 7: South Korea – Number of Trips by Residents (Million), 2007–2016 36 Figure 8: South Korea – Average Length of Tourism Trip (Nights), 2007–2016 37 Figure 9: South Korea – Average National Tourism Expenditure per Day of Trip (KRW) 2007, 2011 and 2016 38 Figure 10: South Korea – Resident Income Expenditure on Tourism (% of Total), 2007–2016 39 Figure 11: South Korea – Total Tourism Expenditure by Tourist Destination (%), 2011 41 Figure 12: South Korea – Total Tourism Expenditure by Category (KRW Billion), 2007–2016 43 Figure 13: South Korea – Number of Trips by Type (Million), 2007–2016 46 Figure 14: South Korea – Overnight Stays by Type (Million), 2007–2016 47 Figure 15: South Korea – Domestic Tourism Expenditure (KRW Billion), 2007–2016 48 Figure 16: South Korea – Domestic Tourist Accommodation Expenditure (KRW Billion), 2007–2016 49 Figure 17: South Korea – Domestic Tourist Entertainment and Sightseeing Expenditure (KRW Million), 2007–2016 50 Figure 18: South Korea – Domestic Tourist Foodservice Expenditure (KRW Billion), 2007–2016 51 Figure 19: South Korea – Domestic Tourist Retail Expenditure (KRW Billion), 2007–2016 52 Figure 20: South Korea – Domestic Tourist Transportation Expenditure (KRW Billion), 2007–2016 53 Figure 21: South Korea – Domestic Tourist Travel Intermediation Expenditure (KRW Billion), 2007–2016 54 Figure 22: South Korea – Domestic Tourist Expenditure on Other Categories (KRW Billion), 2007–2016 55 Figure 23: South Korea – Average Expenditure per Domestic Tourist by Category (KRW), 2007–2016 57 Figure 24: South Korea – Domestic Tourism Expenditure Market Dynamics (%), 2007–2016 58 Figure 25: South Korea – International Arrivals from Africa (Thousands), 2007–2016 61 Figure 26: South Korea – International Arrivals from Asia-Pacific (Million), 2007–2016 62 Figure 27: South Korea – International Arrivals from Europe (Thousands), 2007–2016 63 Figure 28: South Korea – International Arrivals from the Middle East (Thousand), 2007–2016 64 Figure 29: South Korea – International Arrivals from North America (Thousand), 2007–2016 65 Figure 30: South Korea – International Arrivals from South and Central America (Thousand), 2007–2016 66 Figure 31: South Korea – International Arrivals by Purpose of Visit (Thousand), 2007–2016 67 Figure 32: South Korea – Inbound Tourist Expenditure (KRW Billion), 2007–2016 68 Figure 33: South Korea – Inbound Tourist Expenditure on Accommodation (KRW Billion), 2007–2016 69 Figure 34: South Korea – Inbound Tourist Expenditure on Entertainment and Sightseeing (KRW Billion), 2007–2016 70 Figure 35: South Korea – Inbound Tourist Expenditure on Foodservice (KRW Billion), 2007–2016 71 Figure 36: South Korea – Inbound Tourist Expenditure on Retail (KRW Billion), 2007–2016 72 Figure 37: South Korea – Inbound Tourist Expenditure on Transportation (KRW Billion), 2007–2016 73 Figure 38: South Korea – Inbound Tourist Expenditure on Travel Intermediation (KRW Million), 2007–2016 74 Figure 39: South Korea – Inbound Tourist Expenditure on Other Categories (KRW Million), by Type, 2007–2016 75 Figure 40: South Korea – Average Expenditure per Inbound Tourist by Category (KRW), 2007–2016 77 Figure 41: South Korea – Inbound Tourist Expenditure Market Dynamics (%), 2007–2016 78 Figure 42: South Korea – International Departures to Africa (Thousand), 2007–2016 81 Figure 43: South Korea – International Departures to Asia-Pacific (Million), 2007–2016 82 Figure 44: South Korea – International Departures to Europe (Thousand), 2007–2016 83 Figure 45: South Korea – International Departures to the Middle East (Thousand), 2007–2016 84 Figure 46: South Korea – International Departures to North America (Thousand), 2007–2016 85 Figure 47: South Korea – International Departures to South and Central America (Thousand), 2007–2016 86 Figure 48: South Korea – International Departures by Purpose of Visit (Thousand), 2007–2016 87 Figure 49: South Korea – Overnight Stays on International Trips (Million), 2007–2016 88 Figure 50: South Korea – Outbound Tourism Expenditure (KRW Billion), 2007–2016 89 Figure 51: South Korea – Outbound Tourism Expenditure on Accommodation (KRW Billion), 2007–2016 90 Figure 52: South Korea – Outbound Tourism Expenditure on Entertainment and Sightseeing (KRW Million), 2007–2016 91 Figure 53: South Korea – Outbound Tourism Expenditure on Foodservice (KRW Billion), 2007–2016 92 Figure 54: South Korea – Outbound Tourism Expenditure on Retail (KRW Billion), 2007–2016 93 Figure 55: South Korea – Outbound Tourism Expenditure on Transportation (KRW Billion), 2007–2016 94 Figure 56: South Korea – Outbound Tourism Expenditure on Travel Intermediation (KRW Billion), 2007–2016 95 Figure 57: South Korea – Outbound Tourism Expenditure on Other Categories (KRW Billion), 2007–2016 96 Figure 58: South Korea – Average Overseas Expenditure per Resident by Category (KRW Thousand), 2007–2016 98 Figure 59: South Korea – Outbound Tourism Expenditure Market Dynamics (%), 2007–2016 100 Figure 60: South Korea – Total Tourism Output by Category (KRW Billion), 2007,2011 and 2016 104 Figure 61: South Korea – Direct Tourism Output by Category (KRW Billion), 2007, 2011 and 2016 106 Figure 62: South Korea – Indirect Tourism Output by Category (KRW Billion), 2007, 2011 and 2016 108

LIST OF FIGURES




Figure 63: South Korea – Total Tourism Employment by Category (Thousand), 2007–2016 110 Figure 64: South Korea – Total Tourism Employment as a Percentage of Total Employment (%), 2011 112 Figure 65: South Korea – Direct Tourism Employment by Category (Thousand), 2007–2016 114 Figure 66: South Korea – Direct Tourism Employment as a Percentage of Total Employment (%), 2011 116 Figure 67: South Korea – Indirect Tourism Employment by Category (Thousand), 2007–2016 118 Figure 68: South Korea – Indirect Tourism Employment as a Percentage of Total Employment (%), 2011 120 Figure 69: South Korea – Total Tourism Output Generated per Employee by Category (KRW Million), 2007–2016 122 Figure 70: South Korea – Direct Tourism Output Generated per Employee by Category (KRW Million), 2007–2016 124 Figure 71: South Korea – Indirect Tourism Output Generated per Employee by Category (KRW Thousand), 2007–2016 126 Figure 72: South Korea – Average Salary per Employee by Category (KRW Million), 2007–2016 128 Figure 73: South Korea – Gross Income Generated by Total Tourism Employment by Category (KRW Billion), 2007–2016 130 Figure 74: South Korea – Seats Available by Carrier Type (Million), 2007–2016 137 Figure 75: South Korea – Seats Sold by Carrier Type – Business Travel (Thousand), 2007–2016 139 Figure 76: South Korea – Seats Sold by Carrier Type – Leisure Travel (Thousand), 2007–2016 140 Figure 77: South Korea – Load Factor by Carrier Type (%), 2011 141 Figure 78: South Korea – Passenger Kilometers Available by Carrier Type (Billion), 2007–2016 142 Figure 79: South Korea – Revenue Generating Passenger Kilometers by Carrier Type (Billion), 2007–2016 144 Figure 80: South Korea – Revenue per Passenger by Carrier Type (KRW Thousand), 2007–2016 146 Figure 81: South Korea – Total Revenue by Carrier Type (KRW Billion), 2007–2016 148 Figure 82: South Korea – Hotel Establishments by Category, 2007–2016 171 Figure 83: South Korea – Available Hotel Rooms by Hotel Category (Units), 2007–2016 172 Figure 84: South Korea – Hotel Room Occupancy Rate by Hotel Category (%), 2007–2016 173 Figure 85: South Korea – Room Nights Available by Hotel Category (Million), 2007–2016 174 Figure 86: South Korea – Average Revenue per Available Room by Hotel Category (Million), 2007–2016 175 Figure 87: South Korea – Average Revenue per Available Room by Hotel Category (KRW), 2007–2016 177 Figure 88: South Korea – Overall Average Revenue per Occupied Room (KRW), 2007–2016 178 Figure 89: South Korea – Overall Revenue per Occupied Room (KRW), 2007–2016 179 Figure 90: South Korea – Total Hotel Revenue by Hotel Category and Customer Type (KRW Billion), 2007 and 2011 182 Figure 91: South Korea – Guests by Hotel Category and Customer Type (Thousand), 2007–2016 184 Figure 92: South Korea – Car Rental Market Value by Customer Type and Rental Location (KRW Billion), 2007and 2011 194 Figure 93: South Korea – Car Rental Fleet Size (Actual), 2007–2016 195 Figure 94: South Korea – Car Rental, Rental Occasions (Million), 2007–2016 196 Figure 95: South Korea – Car Rental, Number of Rental Days (Million), vs Average Rental Length (Days), 2007–2016 198 Figure 96: South Korea – Car Rental, Market Utilization Rate (%), 2007–2016 199 Figure 97: South Korea – Car Rental Average Revenue per Day (KRW), 2007–2016 200 Figure 98: South Korea – Travel Intermediaries Market Value by Product Type (%), 2011 211 Figure 99: South Korea – Travel Intermediaries Online Revenues by Provider (KRW Billion), 2007, 2011 and 2016 213 Figure 100: South Korea – Travel Intermediaries Online Revenues by Type of Tourist (KRW Billion), 2007, 2011 and 2016 215 Figure 101: South Korea – Travel Intermediaries In-Store Revenues by Provider (KRW Billion), 2007, 2011 and 2016 217 Figure 102: South Korea – Travel Intermediaries In-Store Revenues by Type of Tourist (KRW Billion), 2007, 2011 and 2016 219 Figure 103: South Korea – Travel Agent Revenues from Domestic Tourism by Sales Channel (%), 2007 and 2011 221 Figure 104: South Korea – Travel Agent Revenues from International Tourism by Sales Channel (%), 2007 and 2011 223 Figure 105: South Korea – Tour Operator Revenues from Domestic Tourism by Sales Channel (%), 2007 and 2011 225 Figure 106: South Korea – Tour Operator Revenues from International Tourism by Sales Channel (%), 2007 and 2011 227 Figure 107: South Korea – Other Intermediaries Revenues from Domestic Tourism by Sales Channel (%), 2007 and 2011 229 Figure 108: South Korea – Other Intermediaries Revenues from International Tourism by Sales Channel (%), 2007 and 2011 231

INTRODUCTION




2 Introduction

2.1 What is this Report About?

This report is the result of extensive research on the travel and tourism sector in South Korea,

covering its dynamics and competitive landscape. It provides insights on the market size and forecast

for the travel and tourism sector. This report also provides an overview of the leading companies in

the travel and tourism sector, along with details of strategic initiatives undertaken by them.

2.2 Definitions

For the purposes of this report, the following timeframes apply:

Review period: 2007–2011

Forecast period: 2012–2016. Base year for forecasting: 2011

All data is collected in local currency. To avoid distortions due to currency fluctuations, all conversions

into US dollars, of current, historical and forecast data alike, are made with a yearly average

exchange rate. All values in tables, with the exception of compound annual growth rate (CAGR) are

displayed to one decimal place. Growth rates may, therefore, appear inconsistent with absolute

values due to this rounding method.

The key market categories featured in the report are defined below:

Table 1: Timetric Travel and Tourism Industry Definitions

Term Definition

Tourism demand factors Factors which influence the time and money spent on tourism. Typical tourism demand factors include the amount of holiday leave available to the average employee in the country, and mean household income.

Annual employee holiday entitlement

The number of days the average resident of a country will accrue annually through entitled holidays, including annual leave and public holidays. Public holidays are statutory holidays to which a country’s residents are entitled.

Domestic trip A trip taken to a destination within the traveler’s country of residence.

Trips taken by season The number of trips undertaken by the residents of a country (both domestic and international), segmented by four quarters: January–March, April–June, July–September and October–December.

Number of trips by residents

The number of trips undertaken by the residents of a country, segmented by domestic and international trips.

Average length of trip The average number of nights spent by the residents of a country, segmented by domestic and

international trips.

Tourism flow factors Factors which influence the flow of tourists from one location to another.

Number of overnight stays

The total number of nights spent by the residents of a country on all tourism trips during a given year.

International arrivals The number of foreign nationals entering a country. For example, a person from Canada who visits France would be an international arrival to France.

Leisure trips Trips for holidaying, recreation, or visits to friends and relatives

INTRODUCTION





Term Definition

Business trips Trips involving business as the primary purpose. It includes trips for meetings, incentives, conventions and exhibitions (MICE) purposes, events and conferences.

Other trips Trips for purposes other than leisure or business, such as education, sports or pilgrimage.

International departures The total number of citizens leaving their home country and arriving in other countries. This will be higher than the total number of citizens leaving their home country, as a traveler might travel in more than one country after leaving their home country.

Domestic tourist expenditure

Expenditure on tourism commodities during trips within national borders by citizens of the country. This spending is categorized into categories such as accommodation, sightseeing and entertainment, food service, retail (shopping), transportation, travel intermediation and others, which include travel insurance and equipment rental.

Accommodation The total direct spending on accommodation by inbound, domestic and outbound tourists within a single economy.

Sightseeing and entertainment

The total direct spending on sightseeing and entertainment by inbound, domestic and outbound tourists within a single economy

Foodservice The total direct spending on food and beverages from foodservice outlets by inbound, domestic and outbound tourists within a single economy.

Retail The total direct spending in retail outlets by inbound, domestic and outbound tourists within a single economy.

Transportation The total direct spending on transportation by inbound, domestic and outbound tourists within a single economy.

Travel intermediation The total direct spending via travel intermediaries by inbound, domestic and outbound tourists within a single economy.

Other categories The total direct spending within all Other categories by inbound, domestic and outbound tourists within a single economy.

Inbound tourist expenditure

Expenditure on travel and tourism commodities by international visitors within a country. This spending is categorized by various categories such as accommodation, sightseeing and entertainment, food service, retail (shopping), transportation, travel intermediation and others which include travel insurance and equipment rental.

Outbound tourist expenditure

The total expenditure by the residents of a country for the purpose of and during international tourism trips, irrespective of whether these transactions involve domestic or international providers. This spending is categorized by various categories such as accommodation, sightseeing and entertainment, food service, retail (shopping), transportation, travel intermediation and others which include travel insurance and equipment rental.

Tourism balance of payments

The difference between the expenditures of a country’s inbound and outbound tourists with international tourism commodities providers.

Direct tourism output The total direct spending by inbound, domestic and outbound tourists within a single economy, segmented by categories such as accommodation or sightseeing and entertainment. Direct tourism output represents all output consumed directly by visitors.

Indirect tourism output Indirect tourism output includes all output used as inputs in the process of producing direct tourism output. Examples include toiletries for hotel guests and local entertainment for hotels.

Indirect tourism employment

Includes all jobs where workers are engaged in the production of indirect tourism-related output, i.e. output which is used as an input in the process of producing direct tourism output. For example, people employed for local entertainment in hotels generate an indirect output which will be used as an input for the accommodation industry, a direct tourism output.

Direct tourism employment

Includes all jobs where workers are engaged in the production of direct tourism output.

Total tourism output The sum of the value of goods and services purchased by tourists and output which is used as an input in the process of producing these goods and services.

INTRODUCTION





Term Definition

Total tourism employment

All employees engaged in generating tourism output within a country, both directly and indirectly.

Total tourism employment as a percentage of total employment

The percentage of people employed in the tourism industry, both directly and indirectly, of the total employed population.

Average salary by category

Average remuneration per year for employees working within tourism-related categorys.

Total national tourism expenditure

The total spending by residents on both domestic and outbound trips within categories such as accommodation and transportation.

Average national tourism spend per day of trip – domestic

The average daily expenditure of a country’s residents during domestic trips.

Average national tourism spend per day of trip – International

The average daily expenditure of a country’s residents during international trips.

Percentage of total resident income spent on tourism

The percentage of total annual income that a country’s residents spend on travel and tourism activities.

Average salary by category

Average salaries per year for employees working within tourism-related categorys.

Average expenditure per international tourist

The average expenditure on travel and tourism activities by an international tourist within a country. This spending is categorized by various categorys such as accommodation, entertainment and sightseeing, food service, retail (shopping), transportation, travel intermediation and others which include travel insurance and equipment rental.

Average expenditure per domestic trip

The average expenditure on domestic travel and tourism activities by residents of a country, segmented by categories such as accommodation and foodservice.

Average overseas tourism expenditure

The average expenditure on travel and tourism activities by outbound tourists of a country, segmented by categories such as accommodation and foodservice.

Domestic, outbound and inbound tourist expenditure on transportation

Expenditure on all modes of transport within a country by domestic, outbound and inbound tourists.

Direct tourism output on transportation

The total direct spending on transportation by inbound, outbound and domestic tourists within a single economy. Direct tourism output represents all output consumed directly by visitors.

Indirect tourism output on transportation

Indirect tourism output on transportation includes all output used as inputs in the process of producing direct tourism output on transportation.

Indirect tourism employment on transportation

Includes all jobs where workers are engaged in the production of indirect tourism-related output, i.e. output which is used as an input in the process of producing direct tourism output.

Direct tourism employment on transportation

Includes all jobs where workers are engaged in the production of direct tourism output in transportation category in a country.

Total tourism output on transportation

The sum of the value of goods and services (directly or indirectly related to transportation) purchased by tourists and output which is used as an input in the process of producing these goods and services.

Total tourism employment

All employees engaged in generating tourism output within a country, both directly and indirectly.

INTRODUCTION





Term Definition

Total national tourism expenditure on transportation

The total spending by residents on transportation in domestic trips.

Passenger airlines

An airline whose primary business is transport of passengers. The analysis here includes low cost, full service and charter airlines (both national and international) operating within the country and to and from the country.

Low-cost airlines

Airlines that generally offer lower fares by eliminating many traditional services. To recover the revenue lost in reduced ticket prices, the airlines may charge for additional facilities such as priority boarding, seat allocation, food and baggage.

Full-service airlines

Full-service airlines generally have higher fares, operate long-distance routes and offer a complete range of in-flight services.

Charter airlines

An airline which is hired by a group or single customer for leisure or business purposes, or as an air ambulance, and flies outside normal schedules. Airlines classified as non-scheduled by civil aviation organizations fall into this category.

Number of seats available

The number of seats available for purchase on all the airlines operating in a country, i.e. both national and foreign carriers operating on domestic and international routes.

Number of seats sold

The number of seats sold to revenue passengers by all the airlines operating in a country in one year. This does not include crew members.

Passenger kilometres available

A measure of passenger carrying capacity. Passenger kilometres available, or available seat kilometres, is calculated by multiplying seats available by distance travelled by an aircraft. The total available passenger kilometres will be the sum product of seats and kilometres travelled by all individual aircraft operating in a country in one year.

Revenue-generating passenger kilometres

A measure of the volume of passengers carried by airlines operating in a country. It is the total number of kilometers travelled by all revenue passengers in one year. A revenue passenger is a passenger who pays commercial remuneration to airlines for transportation. A revenue passenger kilometer is counted when a revenue passenger is carried one kilometer.

Hotels Establishments that provide paid lodging and full guest services, typically with a continuous staff

presence. In the case of motels, this includes off-street parking facilities but not necessarily meal

services.

Budget hotels Includes hotels that are considered to be budget accommodation, or have a one or two-star

rating, providing accommodation on a short-term basis at relatively low prices.

Midscale hotels Includes hotels with a three star rating. These hotels provide more facilities and comfort than

budget hotels, and their services are charged at higher prices.

Luxury hotels Includes hotels with a four and five-star rating or higher. Luxury hotels provide comfortable

accommodation, with a combination of facilities and style, typically at higher prices than standard

hotels.

Number of rooms The total number of rooms available in all hotel accommodation establishments in a country in

one year.

Room occupancy rate The percentage of available rooms sold during a given period.

Revenue per available

room

A measure of financial performance in the hospitality industry. It is the ratio of total room revenue

to total rooms available. Average room rates and occupancy can also be used to calculate

revenue per available room.

Total room revenue The room rent that a guest pays for the occupied room.

Total non-room revenue Revenue earned by hotels other than the room rent. It includes revenue from food and

beverages, telecommunications, health and leisure operations, and car rentals.

INTRODUCTION





Term Definition

Number of guests Guest numbers in all hotel accommodation establishments in a country in one year.

Business guests The annual number of guests arriving in hotel accommodation establishments for business

purposes.

Leisure guests The annual number of guests arriving in hotel accommodation establishments for leisure

purposes.

Car rental Car rental is the hiring of a motor vehicle from one party to another.

Business rentals Annual revenue generated through car rentals under negotiated contractual agreements between businesses and a rental company,

Leisure rentals Annual revenue generated through car rentals directly to customers.

Airport rentals by leisure customers

Annual car rental revenue generated through direct customer rentals to and from an airport.

Airport rentals by business customers

Revenue generated through car rentals by business customers from an airport under negotiated contractual agreements between the employers and the rental company.

Non-airport rentals Annual car rental revenue generated through direct customer rentals at locations other than airports.

Non-airport rentals by business customers

Revenue generated through car rentals by business customers at locations other than airports under negotiated contractual agreements between the employers and the rental company.

Insurance replacement The revenue generated by car rental firms through customers hiring vehicles through insurance and leasing companies, repair shops or dealerships with which car rental companies have a contractual relationship.

Fleet size The number of vehicles available for rent in one year

Number of rental occasions

The number of times rental cars are rented out.

Rental days The total number of days all cars in the fleet are rented. It is calculated by multiplying the total fleet size by the average number of days per year during which a car is rented.

Average rental length The average duration of a car rental.

Utilization rate The ratio of the number of rental days to total number of days for which cars could be actually rented during the year.

Average revenue per day The ratio of car rental revenue to the total number of rental days in one year.

Travel intermediaries Part of a business that assists in selling travel products and services to customers. The products may include airline tickets, car rentals, hotels, railway tickets and package holidays that may combine several products.

Accommodation only Total revenue generated by intermediaries exclusively through accommodation bookings.

Travel only Total revenue generated by intermediaries exclusively through travel bookings.

Car rental only Total revenue generated by intermediaries exclusively through car rental bookings.

Tourism packages A combination of tourism products or services, such as accommodation, travel bookings, car rental etc., bundled together by a tour operator.

Experiential travel Travel packages offering a holistic experience for travelers who want to go beyond the beaten tourist paths and learn about cultural and social aspects of a country or a place.

Other products Revenue generated by travel intermediaries from travel products and services that are not classified above.

INTRODUCTION





Term Definition

Travel agents Businesses that sell travel-related products and services to both leisure and business customers on behalf of suppliers such as tour operators. These may include package holidays, sightseeing tours, airline tickets, hotel accommodation, cruise bookings, car rentals, rail travel and travel insurance. Some travel agents also serve as sales agents for international travel companies.

Tour operators

Tour operators typically combine two or more travel services, such as transport, sightseeing, accommodation, food and entertainment, and sell them either directly to customers or through travel agents as a single product, called a package tour, for one price.

Other providers

Any part of the value chain between the direct supplier and traveler (customer), which is not classified as a travel agent or a tour operator.

Domestic trips Revenue generated by travel intermediaries selling travel-related products or services for travel within national boundaries.

International trips Revenue generated by travel intermediaries by selling travel-related products or services for travel outside national boundaries.

Online Revenue generated by travel intermediaries by selling travel-related products or services over the internet.

In-store Revenue generated by travel intermediaries by selling related products or services to a customer over the counter.

Source: Timetric analysis © Timetric

INTRODUCTION




2.3 Methodology

All travel and tourism reports are created by following a comprehensive, four-stage methodology. This

includes market study, research, analysis and quality control.

1) Market Study

A. Standardization

Definitions are specified using recognized industry classifications. The same definition is used

for every country.

Annual average currency exchange rates are used for the latest completed year. These are

then applied across both the historical and forecast data to remove exchange rate fluctuations.

B. Internal audit

Review of in-house databases to gather existing data:

o Historic market databases and reports

o Company database

C. Trend monitoring

Review of the latest travel and tourism companies and industry trends

2) Research

A. Sources

Collection of the latest market-specific data from a wide variety of industry sources: o Government statistics

o Industry associations

o Company filings

o International organizations

o Travel and tourism agencies

B. Expert opinion

Collation of opinion taken from leading travel and tourism industry experts

Analysis of third-party opinion and forecasts: o Broker reports

o Media

o Official government sources

C. Data consolidation and verification

Consolidation of data and opinion to create historical datasets

Creation of models to benchmark data across categories and geographies

INTRODUCTION




3) Analysis

A. Market forecasts

Feeding forecast data into market models: o Macroeconomic indicators

o Industry-specific drivers

Analysis of travel and tourism industry database to identify trends: o Latest travel and tourism trends

o Key drivers of the travel and tourism industry

B. Report writing

Analysis of market data

Discussion of company and industry trends and issues

Review of financial deals and travel and tourism trends

4) Quality Control

A. Templates

Detailed process manuals

Standardized report templates and accompanying style guides

Complex forecasting tool used to ensure forecast methodologies are consistently applied

Quality control checklists

B. Quality control process

Peer review

Senior-level QC

Random spot checks on data integrity

Benchmark checks across databases

Market data cross-checked for consistency with accumulated data from: o Company filings

o Government sources

TRAVEL AND TOURISM IN SOUTH KOREA




3 Travel and Tourism in South Korea

3.1 Key Trends and Issues

3.1.1 Key trends

3.1.2 Barriers to tourism

3.1.3 Tourist attractions

3.1.4 Government expenditure





3.2 Tourism SWOT

3.2.1 Overview of the tourism industry in the Philippines

South Korea has benefitted from the rapid economic development experienced by Asian countries, and the

contribution of tourism and cultural industries to the overall economy has increased; in 2011, tourism was

responsible for X.X% of South Korea’s GDP. According to the Word Travel and Tourism Council (WTTC) in

2011, the total number of people directly and indirectly employed in tourism is estimated to represent X.X%

of total employment in South Korea. According to the World Economic Forum Travel and Tourism

Competitiveness Index 2011, South Korea ranked XXnd

among 139 countries. In terms of cultural

resources, it is viewed as the fifth most exciting country.

Figure 1: South Korea – Travel and Tourism Category – SWOT Analysis


Strengths Weaknesses

Opportunities Threats





3.2.2 Strengths

3.2.3 Weaknesses

3.2.4 Opportunities

3.2.5 Threats





3.3 Tourism Demand Factors

During the review period, South Korean employees were entitled to a total of XX holidays per annum, of

which XX days were paid and XX were public holidays.

Table 2: South Korea – Typical Holiday Entitlement per Annum

Public Holidays Paid Holidays Total Holidays


3.3.1 Total population by age

During the review period, the South Korean total population increased marginally from XX.X million in 2007

to XX.X million in 2011. The 35–44 and 45–54 years age groups accounted for the largest shares, with

XX.X% each of the total population in 2011, followed by the 0–14 years age group with XX.X%, and the 25–

34 years age group with XX.X%.

Over the forecast period, the total South Korean population is expected to increase from XX.X million in

2011 to XX.X million in 2016. In 2016, the 45–54 years age group is expected to continue to account for the

XX.X% of the total population, followed by the 35–44 years age group with XX.X% and the 25–34 years age

group with XX.X%.

Table 3: South Korea – Total Population by Age (Million), 2007–2016

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

0–14

15–24

25–34

35–44

45–54

55–64

65+

Total






Figure 2: South Korea – Total Population by Age (%), 2011






3.3.2 Male population by age

During the review period, the South Korean male population increased marginally from XX.X million in 2007

to XX.X million in 2011. The 35–44 and 45–54 years age groups accounted for the largest shares, with

XX.X% each of the total in 2011, followed by the 25–34 years age group with XX.X%.

The total male population in South Korea is expected to increase from XX.X million in 2011 to XX.X million

in 2016. In 2016, the 45–54 years age group is expected to continue to account for the largest share with

XX.X%, followed by the 35–44 years age group with a projected male population share of XX.X%, and the

25–34 years age group with XX.X%.

Table 4: South Korea – Total Male Population by Age (Million), 2007–2016

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

0–14

15–24

25–34

35–44

45–54

55–64

65+

Total


Figure 3: South Korea – Total Male Population by Age (%), 2011






3.3.3 Female population by age

During the review period, the South Korean total female population increased marginally from XX.X million

in 2007 to XX.X million in 2011. The 35–44 years age group accounted for the highest proportion of this

total in 2011, with a XX.X% share of, followed by the 45–54 years age group with XX.X%.

The South Korean total female population is expected to increase from XX.X million in 2011 to XX.X million

in 2016. The 45–54 years age group is expected to account for the highest share of this group with XX.X%,

followed by the 65+ years age group with XX.X%.

Table 5: South Korea – Total Female Population by Age (Million), 2007–2016

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

0-14

15-24

25-34

35–44

45-54

55-64

65+

Total


Figure 4: South Korea – Total Female Population by Age (%), 2011






3.3.4 Number of households

During the review period, the number of households in South Korea rose in line with the country’s

population growth. Overall, the number of South Korean households increased marginally from XX.X million

in 2007 to XX.X million in 2011, recording a CAGR of XX.X%.

Table 6: South Korea – Number of Households (Million), 2007–2011

2007 2008 2009 2010 2011 CAGR

2007–2011

No. of households


The total number of households in South Korean is expected to record a CAGR of XX.X% over the forecast

period, to reach a projected value of XX.X million in 2016.

Table 7: South Korea – Number of Households (Million), 2011–2016

2011 2012 2013 2014 2015 2016 CAGR

2011–2016

No. of households


3.3.5 Mean household income

South Korean mean household income decreased from US$XX.X in 2007 to US$XX.X in 2011, recording a

CAGR of XX.X% during the review period.

Table 8: South Korea – Mean Household Income (US$), 2007–2011

2007 2008 2009 2010 2011 CAGR

2007–2011

Mean household income


Over the forecast period, South Korean mean household income is expected to increase from US$XX.X in

2011 to US$XX.X in 2016 and record a projected CAGR of XX.X%.

Table 9: South Korea – Mean Household Income (US$), 2011–2016

2011 2012 2013 2014 2015 2016 CAGR

2011–2016

Mean household income






Figure 5: South Korea – No. of Households (Million) vs Mean Household income (US$) 2007–2016






3.4 Tourism Market Indicators

3.4.1 Number of trips by season

During the review period, the total number of domestic and international trips by South Korean residents

was at its highest level during the October–December season, which accounted for XX.X% with a CAGR of

XX.X% of overall domestic and international trips in 2011. It was followed by the April–June season, which

accounted for XX.X% with a CAGR of XX.X%.

Table 10: South Korea – Number of Trips by Season (Million), 2007–2011

2007 2008 2009 2010 2011 CAGR 2007–2011

January–March

April–June

July–September

October–December


The October–December season is expected to record the highest domestic and outbound trip CAGR of

XX.X% over the forecast period, and account for the highest share, XX.X%, in 2016. The April–June season

is expected to account for the second-largest share with XX.X%, while the July–September season is

expected to record the lowest forecast-period CAGR of XX.X%.

Table 11: South Korea – Number of Trips by Season (Million), 2011–2016

2011 2012 2013 2014 2015 2016

CAGR 2011–2016

January–March

April–June

July–September

October–December


Figure 6: South Korea – Number of Trips by Season (Million), 2007–2016






3.4.2 Number of trips by residents

During the review period, the number of domestic trips by South Korean residents increased from XX.X

million in 2007 to XX.X million in 2011, recording a CAGR of XX.X%. The total number of international trips

by South Korea residents fell from XX.X million in 2007 to XX.X million in 2011, recording a CAGR of –

XX.X% during the review period.

Table 12: South Korea – Number of Trips by Residents (Million), 2007–2011

2007 2008 2009 2010 2011 CAGR 2007–2011

Domestic

International


The number of domestic trips by South Korean residents is expected to increase from XX.X million in 2011

to XX.X million in 2016, recording a projected forecast-period CAGR of XX.X%. This growth is expected to

be primarily driven by economic growth and increasing propensity for leisure travel.

The number of international departures by South Korean residents is expected to increase from XX.X

million in 2011 to XX.X million in 2016, with a projected forecast-period CAGR of XX.X%.

Table 13: South Korea – Number of Trips by Residents (Million), 2011–2016

2011 2012 2013 2014 2015 2016 CAGR 2011–2016

Domestic

International


Figure 7: South Korea – Number of Trips by Residents (Million), 2007–2016






3.4.3 Average length of tourism trips

The average length of trip is the average number of nights spent on a particular visit by a tourist. For

domestic South Korean travelers, this number increased from XX.X nights in 2007 to XX.X nights in 2011,

recording a CAGR of XX.X% during the review period. The average length of trip for outbound travel

decreased from XX.X nights in 2007 to XX.X nights in 2011, representing a review-period CAGR of XX.X%.

Table 14: South Korea – Average Length of Tourism Trip, 2007–2011

2007 2008 2009 2010 2011 CAGR 2007–2011

Domestic

International


Over the forecast period, the average length of trip for domestic South Korean tourists is expected to

increase from XX.X nights in 2011 to XX.X nights in 2016, with a projected CAGR of XX.X%. The average

length of outbound trips is expected to increase from XX.X nights in 2011 to XX.X nights in 2016, recording

a projected forecast-period CAGR of XX.X%.

Table 15: South Korea – Average Length of Tourism Trip (Nights), 2011–2016

2011 2012 2013 2014 2015 2016 CAGR 2011–2016

Domestic

International


Figure 8: South Korea – Average Length of Tourism Trip (Nights), 2007–2016






3.4.4 Average national tourism expenditure per day of trip

The average national tourism spend per day for domestic tourists increased from KRWXX.X (US$XX.X) in

2007 to KRWXX.X (US$XX.X) in 2011, at a CAGR of XX.X%, whereas the average expenditure per day for

outbound trips increased from KRWXX.X (US$XX.X) in 2007 to KRWXX.X (US$XX.X) in 2011, at a CAGR

of XX.X%.

Table 16: South Korea – Average National Tourism Expenditure (KRW), 2007–2011

2007 2008 2009 2010 2011 CAGR 2007–2011

Domestic

International


Over the forecast period, the average expenditure per day for domestic tourists is projected to increase

from KRWXX.X (US$XX.X) in 2011 to KRWXX.X (US$XX.X) in 2016, at a CAGR of XX.X%. The average

expenditure per day for outbound trips is anticipated to increase from KRWXX.X (US$XX.X) in 2011 to

KRWXX.X (US$XX.X) in 2016, at a CAGR of XX.X%.

Table 17: South Korea – Average National Tourism Expenditure (KRW), 2011–2016

2011 2012 2013 2014 2015 2016 CAGR 2011–2016

Domestic

International


Figure 9: South Korea – Average National Tourism Expenditure per Day of Trip (KRW) 2007, 2011 and 2016






3.4.5 Percentage of total resident income spent on tourism

The percentage of total national income spent on domestic trips decreased marginally from XX.X% in 2007

to XX.X% in 2011 at a CAGR of XX.X%, whereas the percentage of total national income spent on

international trips decreased from XX.X% in 2007 to XX.X% in 2011 at a CAGR of XX.X%.

Table 18: South Korea – Resident Income Expenditure on Tourism (% of Total), 2007–2011

2007 2008 2009 2010 2011 CAGR 2007–2011

Domestic

International


Over the forecast period, the percentage of total national income spent on domestic tourism is expected to

decrease by XX.X% in 2016, at a CAGR of XX.X%. The percentage of total national income spent on

international tourism is expected to decrease from XX.X% in 2011 to XX.X% in 2016 at a CAGR of XX.X%.

Table 19: South Korea – Resident Income Expenditure on Tourism (% of Total), 2011–2016

2011 2012 2013 2014 2015 2016 CAGR 2011–2016

Domestic

International


Figure 10: South Korea – Resident Income Expenditure on Tourism (% of Total), 2007–2016


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