With the government's strong commitment to fostering the tourism industry, the upcoming Asia-Pacific Economic Cooperation (APEC) Summit scheduled for October 31 in Gyeongju, Gyeongsangbuk-do, and the global popularity of the Netflix animation "K-Pop Demon Hunters," there is growing attention on whether South Korea will usher in a new era of 20 million inbound tourists for the first time in history.
According to the Korea Tourism Organization on October 1, the number of inbound foreign tourists in August reached 1,820,332, a 16.4% increase compared to the same month last year (1,563,221). The cumulative number of inbound tourists from January to August this year was 12,379,498, up 16% year-on-year. This figure is also 7.9% higher than the same period in 2019, which previously recorded the highest number of foreign visitors (11,473,580). The final number of tourists this year is projected to reach approximately 18.88 million based on arithmetic estimates.
1.82 Million Tourists Visited in August... 16.4% Increase Year-on-Year
The tourism industry is cautiously optimistic about surpassing the 20 million mark. The global popularity of K-culture, including K-Pop Demon Hunters, is on the rise, and the government has also demonstrated a strong commitment to supporting the industry. Since September 29, the government has allowed visa-free entry for Chinese group tourists of three or more people, permitting them to travel freely throughout South Korea for up to 15 days. This measure will be implemented temporarily until June 30 of next year, and the government expects it will bring in an additional one million Chinese tourists.
The APEC Summit, which will be held in Gyeongju from October 31 to November 1, is also expected to provide a significant boost to the tourism industry. With world leaders in attendance, international media attention will be focused on Korea, naturally showcasing the country’s cities, culture, and tourism infrastructure, thereby enhancing the nation’s global image and promotional reach.
The government is presenting the traditional art performance "Seorabeol Pungnyu" at major tourist sites in Gyeongju, with special performances held daily until just before the summit. From October 31 to November 4, the National Jeongdong Theater Company will stage "Dansim," a newly reinterpreted performance of the classic folktale "Simcheong," at Gyeongju Expo Grand Park.
K-Culture Popularity, Government Commitment, and the APEC Summit: Tourism Industry Tailwinds
The government’s strong commitment was reaffirmed at the National Tourism Strategy Meeting held on September 25. Minister of Culture, Sports and Tourism Choi Hwi-young set a goal to attract 30 million inbound tourists and achieve a total tourism expenditure of 75 trillion won by 2030, ultimately aiming to reach 40 million foreign visitors and 100 trillion won in total spending. To achieve this, the government plans to disperse tourists concentrated in the Seoul metropolitan area to other regions and create new tourism zones.
To actively link K-culture with the tourism industry, the government has established the Presidential Committee for Popular Culture Exchange, appointing JYP Entertainment CEO Park Jinyoung as co-chair. In addition, it launched the "K-Tourism Innovation Task Force" to develop comprehensive government-wide strategies for industry growth.
The Korea Tourism Organization is also ramping up efforts to attract inbound tourists by heavily promoting major attractions featured in K-Pop Demon Hunters, such as Naksan Park, Gyeongbokgung Palace, and Bukchon Hanok Village.
The Hyundai Research Institute forecasts that if the number of foreign tourists surpasses 20 million for the first time this year, tourism revenue will reach approximately 20.25 billion US dollars (about 29.4 trillion won). This amount is equivalent to about 2.5% of domestic consumption.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
