With its 48.9 million inhabitants and a GDP of USD 1,007,084 million (2010), and GNI per capita stood at USD 20,759 in 2010, which is the seventh nation in the world with a population of more than 50 million to achieve the per-capita GDP of USD20,000. Korea also stands at world’s seventh-largest exporter with a total export volume of USD460 billion in 2010 due to robust trade performances. In terms of outbound travel, one out of every four Koreans travel overseas, which is one of the highest ratios when compared to the percentage of overseas travel from other Asian countries such as Japan and China.
Korea is one of the most ‘connected’ countries in the world with the internet being the number one source with over 50% of the leisure travelers to refer internet for information on destination. Currently online purchase for travel package, airline tickets and hotels are on the rise, Korean agents and airlines are investing heavily in e-marketing. While package holidays are dominant in Korea, an increasing number of Koreans are choosing customized tour program and FIT-type holidays.
Top 30 travel agencies produce 80% of agent bookings. Incheon International Airport is renowned Northeast Asia’s no. 1 hub that serves 70 airlines to connect the world from Korea.
