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Analysis South Korea’s big bet on domestic tourism may struggle without ChinaNew COVID restrictions on Chinese nationals risk alienating the most important country for South Korea’s tour industry Emerging from the worst of the COVID-19 pandemic, South Korea has ambitious plans to boost tourism in 2023 and beyond. But with Chinese travelers yet to return, South Korean tourism will struggle to reach its full potential. At the beginning of this year, the Ministry of Culture, Sports and Tourism announced that it aims to increase the number of foreign tourists from 970,000 in 2021 to 10 million in 2023 and 30 million by 2027. It also wants to increase income from tourism from $10.3 billion in 2021 to $16 billion in 2023 and $30 billion in 2027. These are © Korea Risk Group. All rights reserved. |





