IMARC Group has recently released a new research study titled “South Korea Tourism Market Report by Tourism Type (Medical, Sports, Cultural, Culinary, Wellness, Educational, and Others), Tourist Type (Domestic, International), Travel Type (Solo, Group), Booking Channel (OTA Platform, Direct Booking), Age Group (Below 30 Years, 30 to 41 Years, 42 to 49 Years, 50 Years and Above), and Region 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
South Korea Tourism Market Overview
The South Korea tourism market size reached USD 13,066.0 Million in 2024. It is expected to grow to USD 19,805.3 Million by 2033, with a CAGR of 4.73% during the forecast period 2025-2033. The market growth is supported by the rising popularity of K-pop dramas and the increasing number of cultural sites.
Study Assumption Years
- Base Year: 2024
- Historical Years: 2019-2024
- Forecast Period: 2025-2033
South Korea Tourism Market Key Takeaways
- Current Market Size: USD 13,066.0 Million (2024)
- CAGR: 4.73%
- Forecast Period: 2025-2033
- Government investments in new hotels and transportation networks are enhancing South Korea’s accessibility and boosting market growth.
- The rich cultural heritage featuring historical sites and traditional festivals attracts tourists seeking unique experiences.
- Seoul Capital Area is a major tourist draw due to its dynamic cityscape and cultural attractions.
- Uneven visitor distribution across regions challenges the market, but efforts to promote lesser-known areas aim to balance and diversify travel experiences.
- Innovative attractions such as the Moon of Seoul helium balloon and culinary initiatives like the “Taste your Korea” food tourism brand enhance visitor experiences and market demand.
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Market Growth Factors
Government investments in new hotels and improved transport networks are key growth drivers for South Korea’s tourism market. These investments enhance the country’s accessibility and appeal, accelerating market expansion. The base year 2024 market size was USD 13,066.0 Million, with growth expected to continue at a CAGR of 4.73% during 2025-2033, culminating in a forecasted market value of USD 19,805.3 Million. These infrastructural enhancements play a crucial role in increasing tourist inflows.
South Korea’s rich cultural heritage, characterized by historical sites and traditional festivals, is a significant factor attracting tourists seeking unique experiences. The market benefits from this deep cultural appeal, which contributes to steady demand growth. The presence of vibrant regions such as Seoul Capital Area, Yeongnam, Honam, and Hoseo, each offering distinctive cultural experiences and natural beauty, enhances the overall tourism attractiveness.
Innovative attractions and strategic culinary initiatives strengthen visitor engagement in South Korea. For instance, the launch of the Moon of Seoul helium balloon in June 2024 provides unique views enhancing visitor satisfaction and encouraging longer stays. Additionally, the July 2024 “Taste your Korea” food tourism brand highlights 33 iconic local dishes and liquors, reinforcing South Korea’s reputation as a leading food destination. These efforts drive market demand and growth prospectively.
Market Segmentation
The market segmentation is as follows:
- Tourism Type:
- Medical: South Korea offers advanced healthcare facilities attracting medical tourists.
- Sports: Vibrant sports events contribute to the tourism sector.
- Cultural: Rich cultural experiences with historical sites and festivals attract tourists.
- Culinary: Diverse culinary delights are a major draw for food enthusiasts.
- Wellness: Comprehensive wellness retreats appeal to health-conscious visitors.
- Educational: Valuable educational programs attract learning-focused tourists.
- Others: Additional tourism types contribute to overall market diversity.
- Tourist Type:
- Domestic: Local tourists form a substantial part of the market.
- International: Foreign visitors contribute significantly to market growth.
- Travel Type:
- Solo: Individual travelers seeking diverse experiences.
- Group: Groups enjoying cultural sites and scenic landscapes.
- Booking Channel:
- OTA Platform: Online travel agencies offering diverse packages and convenience.
- Direct Booking: Personalized services often providing better rates.
- Age Group:
- Below 30 Years: Youth seeking vibrant city experiences and nightlife.
- 30 to 41 Years: Interested in cultural and culinary exploration.
- 42 to 49 Years: Prefer historical and scenic sites.
- 50 Years and Above: Value relaxed and cultural experiences.
Regional Insights
The dominant region is the Seoul Capital Area, attracting tourists with its dynamic cityscape and cultural attractions. Other regions such as Yeongnam offer historical sites and scenic beauty, Honam is known for natural landscapes, and Hoseo draws visitors with historical landmarks and traditional charm. These diverse regional features collectively enhance South Korea’s tourism appeal.
Recent Developments & News
In July 2024, government bodies in South Korea launched the “Taste your Korea” food tourism brand featuring 33 iconic dishes, ingredients, and liquors to boost the country’s reputation as a top food tourism destination. In June 2024, South Korea introduced the Moon of Seoul helium balloon at Yeouido Park, accommodating 30 passengers and providing scenic views of the Hangang River and Seoul, expected to attract more tourists. In February 2024, regulatory authorities launched the enhanced K-Incentive Scheme 2.0 targeting Indian travel agents to increase engagement and tourist numbers from India.
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