Posts tagged with "domestic tourists"

Rita Azar for use by 360 Magazine

FASTEST GROWING TOURIST ATTRACTION OF KOREA – INCHEON

Korea has quickly earned increasing global interest and attention with the rise of online cultural trends. So many people are intrigued by the experience of Korean culture, and since Korea has been continuously recuperating from COVID-19, the Incheon Tourism Organization predicts that international tourists will be able to indulge in trips to Korea very soon.

Seoul has been often regarded as the leading tourist attraction in Korea, but Incheon may triumph over Seoul modernly. Conveniently located by the sea amongst islands and numerous filming locations of Korean cultural content, tourists can now encounter trips in the area with Incheon’s smart tourist platform.

Incheon Tourism Organization suggests the following tourist locations to get to know the true essence of Incheon.

Wolmido Island – Location from Squid Game

Wolmi Theme Park (Wolmi My Land) opened in 1992 and is the oldest amusement park in Wolmido. The park has become exceptionally popular as it was the filming location of Squid Game, where Deoksu meets his gang members. Fans come near and far to get photo ops at Wolmi There Park, indulging in dalgona like the characters from Squid Game and to admire the breathtaking sunsets.

Yeongjongdo Island – The Heart of Korean Content

Yeongjongdo Island is typically the first site that tourists encounter, as many international airlines arrive in Korea via Incheon International Airport. One of the top art and entertainment resorts in Yeongjongdo Island, Paradise City, is noteworthy for the multitude of music videos, photoshoots and fan meeting sites for K-Pop artists. Paradise City isn’t the only filming location for Korean content from TV series to reality shows in Yeongjongdo Island. Eurwangni Beach is where BTS filmed one of their music videos, and is a must-visit for those looking to appreciate a stunning sunset in Korea.

Incheon Open Port – Smart Travel via Incheon Easy App

Incheon Open Port may just be the most significant historic tourist attraction that allows for an experience of the 19th century, and the present. Domestic and international visitors can take pleasure in these trips by using the Incheon Easy app. The app includes tourism suggestions, transportation reservations and a luggage keeping service. Download the Incheon Easy app if you plan on traveling to Incheon soon. (Available on Google Play and App Store).

If you’re in search of the perfect tourist destination that will submerge you in culture, entertainment and history, you’ve found exactly that in Incheon.

travel illustration by Gabrielle Marchan for 360 Magazine

Beijing’s Tourism Revenue Drop

Beijing’s Tourism Revenue Dropped by 53% in 2020 – Loss of Over ¥330B 

The tourism industry was badly hit by the COVID-19 pandemic and the city of Beijing saw the momentum of the industry halted in 2020. Beijing had become an increasingly popular tourist destination prior to the pandemic with revenue from inbound tourism recorded at $5.16B in 2019. According to data presented by TradingPlatforms, Beijing’s total revenue from tourism decreased by over 53% in 2020 for a staggering loss of ¥330B, or $50B.

Beijing Revenue From Tourism Dropped By Over $50B After Years Of Growth

China has long moved on from its isolationist policies and has encouraged the mainland as a travel destination for tourists. Revenue from China’s tourism sector grew at a strong 13.8% CAGR from 2010-2019 to ¥5.7T, or almost $880B. In 2019, China was the fourth most visited country by foreign tourists with 65.7M arrivals for the year.

Beijing is one of the leading tourist destinations in China, and the city has been enjoying the growth of the tourism sector until the pandemic of 2020 hit. From 2016-2019, Beijing’s tourism revenue experienced a 5.53% CAGR, rising to a value of ¥622.7B in 2019. However, COVID-19 shut borders around the world, crippling global mobility and disrupting the momentum built up by Beijing’s tourism industry. Beijing’s revenue from tourism dropped over 53% in 2020 to just over ¥291.

Beijing suffered a staggering loss in revenue, specifically in inbound tourism, where revenue dropped from $5.16B in 2019 to just $480M in 2020.

COVID-19 Hit China Early – Caused Massive Disruption in H1 of 2020

China felt the effects of COVID-19 before much of the rest of the world did. A clear example of this is in the drop in weekly Airbnb bookings from the period between January 5th to March 7th. This drop occurred when the coronavirus was just becoming news to the rest of the world of what was happening in various parts of China. Beijing experienced a dizzying 96% drop in weekly Airbnb bookings compared to just 46% in Seoul and 29% in Tokyo in this time period.

The number of domestic tourists is estimated to have dropped by as much as 62% in the first half of 2020 compared to the year prior, with revenues dropping by as much as 77%. By the end of the year, China had experienced a 43% drop in domestic tourists and a 52% drop in revenue from domestic tourism.

Tourism in China Projected To Completely Recover Within 5 Years

In 2019, the absolute economic contribution of tourism in China was estimated at $1.67T. This fell sharply to just $745.5B in 2020-a decrease of more than 55%, but still the largest in Asia and the second-largest overall, after the USA. However, projections have the figure bouncing back up by over 40.5% in 2021 to $1.04T. The figure is projected to surpass pre-pandemic levels for the first time in 2023, when the absolute economic contribution of tourism is projected to be at $1.75T.

Despite the turmoil of 2020, China’s absolute economic contribution from tourism is projected to have an impressive CAGR of 20.75% from 2021-2025, reaching more than $2.67T by the end of the forecast period.

You can read more about the story with more statistics and information on TradingPlatforms’ website.