South Korea Hopes Olympics Will Lead To Tourism Boom

South Korea Hopes Olympics Will Lead To Tourism Boom
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The 2018 Pyeongchang Winter Olympics and Paralympics will boost tourism in South Korea after a falling number of Chinese visitors, it has been claimed.

According to data compiled by the Korea Culture and Tourism Institute, and reported by Yonhap, next year’s Games are expected to generate KRW668.4 billion (£447 million/US$585/€500 million) in revenue with an employment target of 9,000.

The Organising Committee for Pyeongchang 2018 expects 83,000 foreign tourists to visit South Korea.

The number of athletes, reporters and other Olympics officials is estimated at 75,000.

The country’s tourism industry has been hit this year after the Chinese Government banned tour agencies from selling package tours to South Korea.

This was due to its opposition to Seoul’s decision to deploy an advanced American missile defence system in the country, amid continuing tensions with North Korea.

Of the 17.2 million foreign tourists who visited South Korea last year, Chinese people accounted for 8.06 million, or 46.8 per cent.

The number of Chinese visitors in the January to August period this year, however, came to only 2.87 million.

Other experts have said the 2018 Games will only have a “short-term effect” on the local tourism industry, however.

China will need to fully lift its “economic retaliation” against South Korea for more longer lasting benefits, according to Yonhap.

 

Declan McSweeny, insidethegames.biz

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