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Country Report

Travel in

Travel in South Korea

Nov 2020

US$2,100

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Executive Summary

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COVID-19 impact on travel

The impact of COVID-19 on South Korea’s travel industry has been severe, with hotels either closed or operating at extremely low occupancy rates for much of 2020 and airlines suffering enormous losses as global restrictions wreak havoc throughout travel. Several operators have been forced to furlough or lay off staff and many businesses face bankruptcy.

COVID-19 country impact

South Korean authorities avoided lockdowns and instead pursued a strategy of early and aggressive mass testing, isolating anybody infected and tracking their movements to locate other people who had come into contact with them. Within two weeks of its first case, the country was producing more than 100,000 test kits per day and it had tested over 600,000 people by early May.

Company response to COVID-19: Airlines and hotels

Korean Air continues to lead airlines overall in 2020, holding 36% value share, compared to second-ranked Asiana’s 22%. The two remain way ahead of their competitors, with Jeju Air and Jin Air taking third and fourth place and holding 6% and 4% value share, respectively.

Impact of COVID-19 on online bookings and travel intermediaries

Hanatour maintains a clear lead of travel intermediaries with 16% value share, followed by Modetour and Interpark Tour which hold 9% and 8%, respectively. Interpark Tour leads intermediaries online sales with 12% value share, while Hanatour ranks second with 10%.

What next for travel?

Full recovery is set to be rocky as virus numbers continue to rise across the world and consumer confidence is falling in the face of persistent uncertainty and economic stress. South Korea will be able to build on its reputation as a relatively virus-safe country due to its rapid response and effective containment measures, through the strict regulations which enable it progress are off-putting to many travellers.

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Overview

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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Overview:

Discover the latest market trends and uncover sources of future market growth for the Travel industry in South Korea with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you are in the Travel industry in South Korea, our research will save you time and money while empowering you to make informed, profitable decisions.

When you purchase this report, you also get the data and the content from these category reports in South Korea for free:

The Travel in South Korea market research report includes:

Analysis of trends
Detailed segmentation
Historic volumes and values, company and brand market shares
Forecasts
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Travel in South Korea?
What are the major brands in South Korea?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Travel market research database.

Each report is delivered with the following components:
Report: PDF
Market statistics: Excel workbook

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Travel in South Korea

EXECUTIVE SUMMARY

COVID-19 impact on travel

COVID-19 country impact

Company response to COVID-19: Airlines and hotels

Impact of COVID-19 on online bookings and travel intermediaries

What next for travel?

Chart 1 Inbound Receipts: 2020-2025
Chart 2 Average Spend per Trip for Inbound Arrivals: 2020-2025

MARKET DATA

Table 1 Annual Leave: Volume 2015-2020
Table 2 Travellers by Age: Number of People 2015-2020
Table 3 Seasonality: Number of People 2015-2020
Table 4 Leisure Outbound Demographics: Number of Trips 2015-2020
Table 5 Other Transport Sales: Value 2015-2020
Table 6 Other Transport Online Sales: Value 2015-2020
Table 7 Forecast Other Transport Sales: Value 2020-2025
Table 8 Forecast Other Transport Online Sales: Value 2020-2025
Table 9 Activities and Experiences: Value 2015-2020
Table 10 Forecast Activities and Experiences: Value 2020-2025

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

DISCLAIMER

SOURCES

Summary 1 Research Sources

Tourism Flows in South Korea

KEY DATA FINDINGS

2020 IMPACT

Tourism flows slow considerably as border shutdowns disrupt travel globally

Jeju Island uses blockchain technology to tempt back tourists, and business travel slowly starts to select areas

RECOVERY AND OPPORTUNITIES

K-culture set to increase diversity in visitors to South Korea, and experiential travel to see rising demand

New agreement marks beginning of thawed relations with Japan in bid to restart business travel

CATEGORY DATA

Table 11 Inbound Arrivals: Number of Trips 2015-2020
Table 12 Inbound Arrivals by Country: Number of Trips 2015-2020
Table 13 Inbound City Arrivals 2015-2020
Table 14 Inbound Receipts: Value 2015-2020
Table 15 Leisure Inbound Demographics: Number of Trips 2015-2020
Table 16 Forecast Inbound Arrivals: Number of Trips 2020-2025
Table 17 Forecast Inbound Arrivals by Country: Number of Trips 2020-2025
Table 18 Forecast Inbound Receipts: Value 2020-2025
Table 19 Domestic Trips by Destination: Number of Trips 2015-2020
Table 20 Domestic Business Trips by Travel Mode: Number of Trips 2015-2020
Table 21 Domestic Leisure Trips by Travel Mode: Number of Trips 2015-2020
Table 22 Domestic Expenditure: Value 2015-2020
Table 23 Forecast Domestic Business Trips by Travel Mode: Number of Trips 2020-2025
Table 24 Forecast Domestic Leisure Trips by Travel Mode: Number of Trips 2020-2025
Table 25 Forecast Domestic Expenditure: Value 2020-2025
Table 26 Outbound Departures: Number of Trips 2015-2020
Table 27 Outbound Departures by Destination: Number of Trips 2015-2020
Table 28 Outbound Expenditure: Value 2015-2020
Table 29 Forecast Outbound Departures: Number of Trips 2020-2025
Table 30 Forecast Outbound Departures by Destination: Number of Trips 2020-2025
Table 31 Forecast Outbound Expenditure: Value 2020-2025

Airlines in South Korea

KEY DATA FINDINGS

2020 IMPACT

Jeju and Eastar come to blows over stringent conditions of acquisition deal

Korean Air receives state-backed investment to remain operational during pandemic

RECOVERY

Leading airlines turn to cargo flights for profit and first-class options fall out of favour

Smaller players face uphill struggle to survive in absence of financial aid

CATEGORY DATA

Table 32 Airlines Sales: Value 2015-2020
Table 33 Airlines Online Sales: Value 2015-2020
Table 34 Airlines: Passengers Carried 2015-2020
Table 35 Airlines NBO Company Shares: % Value 2016-2020
Table 36 Low Cost Carriers Airlines Brands by Key Performance Indicators 2020
Table 37 Scheduled Airlines Brands by Key Performance Indicators 2020
Table 38 Forecast Airlines Sales: Value 2020-2025
Table 39 Forecast Airlines Online Sales: Value 2020-2025

Car Rental (Destination) in South Korea

KEY DATA FINDINGS

2020 IMPACT

Car rental players rely on pre-existing domestic demand

Rise of ride-hailing and car sharing continues to challenge traditional car rental models

RECOVERY AND OPPORTUNITIES

Car sharing schemes set to expand and diversify in line with digital trends and evolving consumer demand

Mercedes focuses on digital mobility while Hyundai gains access to car sharers’ data

CATEGORY DATA

Table 40 Car Rental Sales: Value 2015-2020
Table 41 Car Rental Online Sales: Value 2015-2020
Table 42 Structure of Car Rental Market 2015-2020
Table 43 Car Rental NBO Company Shares: % Value 2016-2020
Table 44 Car Rental Brands by Key Performance Indicators 2020
Table 45 Forecast Car Rental Sales: Value 2020-2025
Table 46 Forecast Car Rental Online Sales: Value 2020-2025

Lodging in South Korea

KEY DATA FINDINGS

2020 IMPACT

Local residents protest establishment of neighbourhood quarantine hotels

Airbnb adapts its cancellation policy in face of complaints from frustrated hosts

RECOVERY AND OPPORTUNITIES

Staycation trend to take off while luxury hotel remains set to expand

Yanolja reshapes hotel management through digital technology and home-start up offers authentic experience

CATEGORY DATA

Table 47 Lodging Sales: Value 2015-2020
Table 48 Lodging Online Sales: Value 2015-2020
Table 49 Hotels Sales: Value 2015-2020
Table 50 Hotels Online Sales: Value 2015-2020
Table 51 Other Lodging Sales: Value 2015-2020
Table 52 Other Lodging Online Sales: Value 2015-2020
Table 53 Lodging Outlets: Units 2015-2020
Table 54 Lodging: Number of Rooms 2015-2020
Table 55 Lodging by Incoming vs Domestic: % Value 2015-2020
Table 56 Hotels NBO Company Shares: % Value 2016-2020
Table 57 Hotel Brands by Key Performance Indicators 2020
Table 58 Forecast Lodging Sales: Value 2020-2025
Table 59 Forecast Lodging Online Sales: Value 2020-2025
Table 60 Forecast Hotels Sales: Value 2020-2025
Table 61 Forecast Hotels Online Sales: Value 2020-2025
Table 62 Forecast Other Lodging Sales: Value 2020-2025
Table 63 Forecast Other Lodging Online Sales: Value 2020-2025
Table 64 Forecast Lodging Outlets: Units 2020-2025

Online Travel Sales and Intermediaries in South Korea

KEY DATA FINDINGS

2020 IMPACT

COVID-19 follows boycott Japan campaign to further weaken sector while government coupons offer some relief

Online shift gains pace and threatens demand for intermediaries

RECOVERY AND OPPORTUNITIES

Dynamic packaging to see rising demand

Investment in innovative solutions and creative packages aims to tempt tourists back to travel

Summary 2 Travel Planning and Booking in South Korea: Purchase Factors 2020

CATEGORY DATA

Table 65 Travel Intermediaries Sales: Value 2015-2020
Table 66 Intermediaries Corporate Business Online Sales: Value 2015-2020
Table 67 Intermediaries Leisure Online Sales: Value 2015-2020
Table 68 Travel Intermediaries NBO Company Shares: % Value 2016-2020
Table 69 Online Travel Sales to Residents: Value 2015-2020
Table 70 Total Mobile Travel Sales to Residents: Value 2015-2020
Table 71 Forecast Travel Intermediaries Sales: Value 2020-2025
Table 72 Forecast Intermediaries Corporate Business Online Sales: Value 2020-2025
Table 73 Forecast Intermediaries Leisure Online Sales: Value 2020-2025
Table 74 Forecast Online Travel Sales to Residents: Value 2020-2025
Table 75 Forecast Total Mobile Travel Sales to Residents: Value 2020-2025

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Megatrends

Country Report

Travel in South Korea

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Executive Summary

New Report Guarantee

COVID-19 impact on travel

COVID-19 country impact

Company response to COVID-19: Airlines and hotels

Impact of COVID-19 on online bookings and travel intermediaries

What next for travel?

Samples

Overview

Why buy this report?

Samples: FAQs about samples

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Table of Contents

Travel in South Korea

EXECUTIVE SUMMARY

COVID-19 impact on travel

COVID-19 country impact

Company response to COVID-19: Airlines and hotels

Impact of COVID-19 on online bookings and travel intermediaries

What next for travel?

MARKET DATA

GLOBAL MACROECONOMIC ENVIRONMENT

GLOBAL INDUSTRY ENVIRONMENT

DISCLAIMER

SOURCES

Tourism Flows in South Korea

KEY DATA FINDINGS

2020 IMPACT

Tourism flows slow considerably as border shutdowns disrupt travel globally

Jeju Island uses blockchain technology to tempt back tourists, and business travel slowly starts to select areas

RECOVERY AND OPPORTUNITIES

K-culture set to increase diversity in visitors to South Korea, and experiential travel to see rising demand

New agreement marks beginning of thawed relations with Japan in bid to restart business travel

CATEGORY DATA

Airlines in South Korea

KEY DATA FINDINGS

2020 IMPACT

Jeju and Eastar come to blows over stringent conditions of acquisition deal

Korean Air receives state-backed investment to remain operational during pandemic

RECOVERY

Leading airlines turn to cargo flights for profit and first-class options fall out of favour

Smaller players face uphill struggle to survive in absence of financial aid

CATEGORY DATA

Car Rental (Destination) in South Korea

KEY DATA FINDINGS

2020 IMPACT

Car rental players rely on pre-existing domestic demand

Rise of ride-hailing and car sharing continues to challenge traditional car rental models

RECOVERY AND OPPORTUNITIES

Car sharing schemes set to expand and diversify in line with digital trends and evolving consumer demand

Mercedes focuses on digital mobility while Hyundai gains access to car sharers’ data

CATEGORY DATA

Lodging in South Korea

KEY DATA FINDINGS

2020 IMPACT

Local residents protest establishment of neighbourhood quarantine hotels

Airbnb adapts its cancellation policy in face of complaints from frustrated hosts

RECOVERY AND OPPORTUNITIES

Staycation trend to take off while luxury hotel remains set to expand

Yanolja reshapes hotel management through digital technology and home-start up offers authentic experience

CATEGORY DATA

Online Travel Sales and Intermediaries in South Korea

KEY DATA FINDINGS

2020 IMPACT

COVID-19 follows boycott Japan campaign to further weaken sector while government coupons offer some relief

Online shift gains pace and threatens demand for intermediaries

RECOVERY AND OPPORTUNITIES

Dynamic packaging to see rising demand

Investment in innovative solutions and creative packages aims to tempt tourists back to travel

CATEGORY DATA

Why buy this report?

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