South Korea to be the big mover in 2012
Amadeus is predicting that South Korea will be a market to watch in 2012 for both inbound and outbound travel growth.
According to the Korea Tourism Organisation (KTO), Korea has already registered a record number of visitor arrivals for 2011 – nine million as of December 1, exceeding 2010 arrivals by one million.
Growth can be attributed to a sharp rise in visitor numbers from mainland China, which have increased by 17 percent this year to exceed two million for the first time.
David Brett, president of Amadeus Asia Pacific, said that South Korea is making significant advancements in its travel infrastructure, which is helping to drive growth in the travel sector.
“While it may not yet rival markets such as China and India in terms of travel volumes, it is certainly making some major leaps forward and should continue to do so in 2012, despite global economic concerns.â€
According to Amadeus, there are four key drivers of South Korea’s travel industry growth:
1. Rise in popularity of Korean culture
South Korea has attracted a growing number of international visitors in recent years due to a growing appreciation for Korean culture, fashion, music and food.
This phenomenon is known as the “Korean Waveâ€, or “Hallyuâ€. “K-pop†(Korean music) is a major contributor to this trend; a June 2011 concert in Paris by a group of K-pop artists sold out in less than 15 minutes and mobs of fans rallied to demand additional shows
2. Improvements in domestic transport infrastructure
More services on the Korea Train Express (KTX) and new bus transit systems have made domestic travel easier and more affordable for South Koreans and foreign visitors.
At the beginning of 2011, a direct rail link was opened to transport travellers from Incheon International Airport straight to downtown Seoul.
3. Expansion of Low Cost Carrier market
Local and international low cost carriers have expanded their routes to include more South Korean arrivals and departures, and new entrants are forcing more competitive pricing.
4. Technology advancements
South Korea is known worldwide as a high-tech hub. The advanced technology at Seoul’s Incheon Airport has already helped to secure its place as one of the world’s best, with the airport ranking third in the 2011 World Airport Awards.
TOPAS, the leading provider of advanced technology solutions for Korean travel agencies, is also working with Amadeus to develop a next-generation technology system for travel professionals.
Once migration is complete in early 2014, this new system will provide the highest levels of content and functionality available in the market.
Ian Jarrett
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