DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/t9rc8h/travel_and) has announced the addition of the "Travel and Leisure Market in South Korea 2014-2018" report to their offering.
The Travel and Leisure market in South Korea to grow at a CAGR of 13.4 percent over the period 2013-2018.
With the decreasing leisure time and increasing costs, consumers are more conscious about their travel choices; they expect value for every dollar spent. This has resulted in extensive information search on where to go, when to go, and how to go. The new-age traveler has harnessed IT to know about the best destinations and world-class services. In 2013, the number of international visitors to South Korea increased by more than that of global and regional averages. A nation that is better known for its manufacturing prowess is set to up its ante in the Tourism sector.
FDI in leisure and tourism is one of the key emerging trends in the market. Foreign investment in South Korea's Travel and Leisure market is mostly seen in hotels, integrated resorts, and marinas. The government also plans to attract FDI in marina development by designating foreign investment zones. Companies such as US-based Florida Marina Development and Australia-based Superior Jetties plan to invest in Marinas in South Korea.
According to the report, duty-free shops are major drivers of this market in South Korea. These shops sell a wide range of products such as electronics, fashion accessories, apparel, cosmetics, and perfumes and are predominantly driven by a rise in the number of Chinese visitors, coupled with an increase in per capita spending by the Chinese.
Further, the report states that one of the major challenges of the Travel and Leisure market is its vulnerability to macroeconomic factors in source countries. The Travel and Leisure market in South Korea is heavily dependent on China and Japan, with more than half of tourists coming from these two countries. The Travel industry has to cope with overcapacity during off-peak times due to its cyclical nature.
The Travel and Leisure market in South Korea can be segmented into two:
- Free Individual Tours
Key Questions Answered in this Report
- What will the market size be in 2018 and what will the growth rate be?
- What are the Key Market Trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- Hana Tour
- Interpark INT
Other Prominent Vendors
- Hanjin Travel
- Online Tour
- Redcap Tour
- Sejoong Tour
- Tour 2000
- YB Tour
For more information visit http://www.researchandmarkets.com/research/t9rc8h/travel_and