South Korea Tourism Q1 2021

South Korea Tourism Q1 2021

Key View:

Following a collapse of arrivals in 2020, our core scenario is for a gradual, sustained recovery in 2021 as Covid-19-relatedrisks subside and pent-up demand begins to emerge. The formation of 'travel bubbles' with countries with low levels of infectionswill be key in supporting market recovery in the short term, although a full border re-opening towards the medium term will beneeded to keep the tourism market afloat. We highlight that the uncertain timeline surrounding the development of a vaccine willbe a key downside risk to travel demand. Government support to the sector through investments and marketing campaigns willbode well for the sector towards the long term. A strong reliance on regional travel leaves the South Korean market vulnerable toregional geopolitical tensions and economic slowdowns.


Key View
SWOT
Tourism SWOT
Industry Forecast
Industry Risk/Reward Index
Asia Pacific Tourism Risk/Reward Index
South Korea Tourism Risk/Reward Index
Market Overview
Competitive Landscape
Tourism Methodology

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