- The key vendors in the Travel and Leisure Market in South Korea are HanaTour Service Inc., Interpark INT Corp. and Modetour Network Inc.
London, 20 August 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Travel and Leisure Market in South Korea 2014-2018. Marine tourism is the new trend of this market which is expected to spur economic development and boost domestic demand by creating jobs and attracting both local and foreign tourists. The Travel and Leisure market in South Korea is expected to grow at a CAGR of 13.4 percent during 2013-2018.
Major beneficiaries of the market are tour operators, hotels, duty-free shops, and casinos. Other tourist attractions are leisure boating and theme parks. South Korean culture, especially its music, is gaining popularity among teenagers and young adults in other Asian countries.
“The duty-free shops in South Korea are famous for their electronic products, apparel, leather goods, and food items. Chinese visitors form a major revenue source for the duty-free shops in South Korea,” says Faisal Ghaus, Vice President of TechNavio Research.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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