Posts tagged with "seoul"

Seventeen unveils medley

K-pop stage-breakers SEVENTEEN unveiled their highlight medley today, providing a glimpse into the 9 tracks on the act’s 4th studio album Face the Sun ahead of its arrival on May 27.

The highlight medley opens with “Darl+ing,” the band’s first-ever English song released last month in advance. It soon segues into a highlight from the lead single “HOT,” a hip-hop based track that encapsulates a riveting listen into the band’s dedication and passion for the path they are on.

The medley then unpacks the dynamic sonic profile of the 7 remaining tracks, seamlessly transitioning from one genre to another. All 13 members make an appearance across various backdrops and sets, singing along to the rock-infused “DON QUIXOTE,” “March,” the pop sounds of “Domino,” “Shadow,” the mellow vocals of “‘bout you,” “IF you leave me,” before closing to the trap beats of the final track “Ash.”

SEVENTEEN will showcase live performances of selected tracks during their comeback show at 7 PM KST on May 28. As anticipation peaks, Face the Sun passed the 2 million pre-order sales mark a week ahead of its release, reaching an all-time high for the band.

The K-pop performance powerhouse also recently signaled their grand return to the concert stage after 2 years and 4 months, announcing ‘SEVENTEEN WORLD TOUR [BE THE SUN].’ SEVENTEEN will kick off the tour on June 25 with two consecutive dates in Seoul, followed by shows in 12 North American cities. More shows are expected to be added to the list, including cities in Asia and a Japan Dome Tour.

About SEVENTEEN:

Racking up 2 billion streams and selling 10 million albums, SEVENTEEN—comprised of S.COUPS, JEONGHAN, JOSHUA, JUN, HOSHI, WONWOO, WOOZI, THE 8, MINGYU, DK, SEUNGKWAN, VERNON and DINO—has rocketed to the forefront of the music scene fueled by a fiercely independent spirit and a nonpareil in-house creative ecosystem. The group’s innovative structure hinges on the interplay of three units: hip-hop, vocal, and performance. Living up to the title of “K-pop Stage-breakers,” SEVENTEEN has unassumingly made history and become one of the biggest groups ever due to their world-class synchronization, jaw-dropping choreography, and tight teamwork. Moving at an unparalleled pace, the K-pop stage-breakers made their U.S. television debut on The Late Late Show with James Corden in January 2021 and followed it with unforgettable performances on The Kelly Clarkson Show, The Ellen DeGeneres Show, Jimmy Kimmel Live! and MTV’s Fresh Out Live. SEVENTEEN’s latest EP Attacca debuted at No. 1 on Billboard’s Top Album Sales chart and No. 13 on the Billboard 200. It sold over 1.3 million copies in the first week of release, earning the K-pop superstars the “quintuple million seller” title as it joins their last four consecutive releases—An Ode, Heng:garæ and ; [Semicolon], Your Choice—in selling over 1 million copies each.

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PSG NY Location

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Ten years after touring the US for the first time, soccer giant Paris Saint-Germain will open its first-ever east coast flagship store in New York City. Located at 587 5th Ave, the brand-new flagship store will be the first-ever official boutique in New York City for an international sports club.

This opening is part of the Club’s innovative global merchandising partnership with Fanatics announced in 2020. It will see retailing giant Lids brought in to open and operate the store. It is a new step for Paris Saint-Germain’s international development after successfully opening its first US store in collaboration with Fanatics and Lids in Los Angeles one year ago. The PSG official boutique in New York will be the club’s largest store outside of France and will add to the club’s growing international retail network which now includes three boutiques in Japan (two in Tokyo and one in Nagoya), one in Seoul, South Korea and two in Doha, Qatar.

The new store will feature an extensive product assortment of team jerseys, headwear, accessories, with a full range of Nike and Jordan teamwear, one-of-a-kind collabs, fashion collections, and NY-inspired Paris Saint-Germain designs exclusively available at the new location. This one-stop destination for Paris Saint-Germain fans in NYC and those from traveling all over the world will get to experience a customization station, a signature feature present in many Lids retail locations for fans to further personalize their Paris Saint-Germain gear on-site. In addition, collectibles such as exclusive signed game and non-game jerseys as well as other team items will be available for purchase.

“Once again Paris Saint-Germain is leading the way by bringing a flagship store right to the heart of New York City, one of the world’s iconic intersections of sports, culture, and fashion,” said Zohar Ravid, Senior Vice-President, Head of Global Corporate Development at Fanatics. “The club is always pushing new boundaries and we are delighted to once again team up with our partners at Lids to expand its global retail presence in a key international market and help the club on its journey to becoming one of the most culturally relevant sports clubs and brands in the world.”

“We are thrilled to bring a globally recognized team and brand with Paris Saint-Germain and flagship store opening in New York City,” said Lawrence Berger, Co-Founder and Partner at Ames Watson and Chairman of FanzzLids Holdings, which is the owner of Lids. “This is an exciting moment for Lids and Paris Saint-Germain fans as they now have an exclusive place to purchase the latest fashions, plus the ability to customize product in-store.”

“Paris Saint-Germain brand development over the last 10 years is truly unique. Becoming the first sports team to open an official boutique in New York City is a key milestone to establish the club as one of the greatest sports brands in the world,” said Fabien Allègre, Brand Director at Paris Saint-Germain. “We are delighted to work with Fanatics to reinforce our presence in North America and to have a retail expert in Lids operating the store. The club is now the number four sports club in the world on social media and our fanbase, worldwide and especially in the US, is growing exponentially. Over 160 million fans follow our team every day. New York is the pinnacle of that growth. We are excited for Paris Saint-Germain supporters from all over the world to experience this new store event and be part of Paris Saint-Germain unique project.”

In celebration of this opening, Paris Saint-Germain and NYC-based boutique creative studio Fly Nowhere have launched an innovative initiative developing special projects and collaboration merchandise. Co-branded product drops will be inspired by local motifs in celebration of PSG landing in New York. These drops will be available exclusively at the PSG NYC and Paris flagship stores.

To celebrate this monumental moment, Lids and Paris Saint-Germain will hold a Grand opening event of the store on Friday, March 18^th.

FASTEST GROWING TOURIST ATTRACTION OF KOREA – INCHEON

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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.

Willow Smith and Harry Hudson – X8 Eyewear

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Gen Z Icons Willow Smith and Harry Hudson Unveil an Eyewear Collection – the First Project of X8

X8 is a new venture company building a creative hub for artists and avatars who will meet In Real Life (IRL) and The Metaverse.

Gen Z stars Willow Smith and Harry Hudson are the faces of X8 Eyewear, the brainchild of X8, a paradigm shifting, creative projects platform, and seed-stage venture fund based in New York, Seoul, and Singapore.

X8 Eyewear draws its inspiration from psychoanalyst Carl Jung‘s Animus and Anima, a theory in analytical psychology that describes the feminine and masculine duality of our unconscious minds.

X8 created a 23-piece collection that transcends gender labels with fluid cool oversize shapes and architectural flourishes.

“I was honored to join the X8 Anima/Animus campaign because I loved the messaging of gender fluidity and the duality of masculine and feminine energies that I believe exists inside every one of us. I had so much fun shooting this concept with my dear friend, Harry,” said Smith, who is an actress, singer-songwriter, and talk show host known for her progressive personal style.

“I was inspired by X8’s creative vision of two forces working together in harmony with one another. A lot of my music has been about balancing the light, dark and the masculine, feminine energy of life, so that idea of true duality really spoke to me and made me want to be a part of this campaign. Also, shooting with my friend and genius Willow was too much fun,” said Hudson, 21, a singer-songwriter famous for documenting his battle with cancer on social media.

While this is Smith and Hudson’s first foray into working with eyewear, it isn’t for X8, which was recently co-founded by Won Lee, the former CEO and CCO of Gentle Monster USA—the South Korean eyewear company—overseeing its rapid rise as one of the biggest eyewear brands in the world.

ABOUT X8
X8 is at the nexus of all things creative (fashion, art, entertainment, technology) and the future. It is Co-founded by Won Lee from South Korea who, outside of his tenure at Gentle Monster, has had an eclectically creative background developing hospitality projects with mega real estate groups such as CBRE, Prodigy and Soho House, as well as a $50M Media/Light Art project in Jeju Island, South Korea, and Nikhil ‘Ra’ Sharma, an Indian entrepreneur, producer and creative projects specialist who has also had a diverse background working with brands such as Louis Vuitton and Chanel Beauté, producing shows with talents such as David Bowie and Prince, Executive Producing a film by Oscar nominated director Fernando Meirelles, and working on projects with personalities such as Silicon Valley icon Sean Parker (Napster, Facebook, Spotify) to Fashion photography legend, Ellen von Unwerth.

Lee (Creative Director, Real World) and Ra (Creative Director, Metaverse) will be working as brothers in arms to morph the present into the future; the real with the virtual. They will oversee two core teams—an artistic, creative, manufacturing team in South Korea; and the Metaverse, NFT, Gaming, AI, Future Tech Studios in India.

X8 is actively developing the X8 Neo-Circus (X8NC), a members-only creative hub/platform for artists, celebrities and influencers in Jeju, and Decentraland: the first decentralized metaverse. This will go hand in hand with a secret character-based NFT project driving the platform. All X8 products will be showcased and sold in X8NC—in both physical and digital forms.

X8 has collaborated with Xelpmoc Design & Technology, a BSE/NSE listed company (XELP:IN). They will join X8 to build X8M (X8 Metaverse) in India to develop and invest in technologies to scale the X8 proposition globally. The core team of X8M are Sandipan Chattopadhyay, Suman Bose and Monce C. Abraham. Sandipan is the founder and MD of Xelpmoc; the co-founder of MoneyControl; and the ex-CTO of Just Dial. Suman Bose—Director and Chief Evangelist at Xelpmoc—was the former Managing Director of Siemens Industry Software. Sandipan and Suman will spearhead the tech and investment strategies for X8M. Monce C. Abraham—Director at THEV—will be focusing on operations and growth strategies for X8M. Abraham, at 24 years of age, was the youngest individual ever to head Marketing and Research at IVCA (Indian Private Equity & Venture Capital Association).

X8’s mission is to empower those who dare to dismantle the past, unsettle the present, and create a new and more exciting world for all. “We do not think in boxes,” say Lee and Ra. The founders see a world which will be driven by cross-industry innovation where an electric car can be built from the ground-up. Such a universe brings together fashion/textiles design, digital art, sustainable materials science, AI tech, rocket science and automotive engineering and Metaverse gaming. “We are driven by a passion to discover the unknown and see the world through the eyes of the new generation and beyond. Today, we may be considered a special projects and venture capital company. Yet our vision is set on tomorrow. The future will define us.”

X8’s venture fund is led by Lee-Woong Yeol, Honorable Chairman of Kolon Group, South Korea. A visionary, Lee has invested in a wide array of businesses and ideas with an intent to create a think-tank. He coalesces solutions, services and products of the future.

Other X8 ventures include the following: 1) SLFF Kaimin—a brand by the New York designer Kaimin—whose futuristic cyber goddess looks have been worn by some of the most outlandish women in entertainment including Björk and Lady Gaga. 2) KLAW—a new sneakers collection for the “universal activity of walking”. 3) 1PEACE—a conscientious fashion and textiles brand that upcycles deadstock for new use.

K-POP STARS SEVENTEEN – ATTACCA

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K-POP SUPERSTARS SEVENTEEN UNVEIL ATTACCA TRACKLIST AND LEAD SINGLE TITLE “ROCK WITH YOU”

SEVENTEEN’s first-ever English track

“2 MINUS 1” included in EP

SEOUL & October 15, 2021, & Leading K-pop superstars SEVENTEEN unveiled the tracklist of their upcoming 9th EP Attacca and revealed the title of lead single “Rock with you” ahead of their highly-anticipated October 22 return.

Including the lead single, “Rock with you,” Attacca is comprised of a total of seven tracks: “To you”, “Crush”, “PANG!” (Performance unit), “Imperfect Love” (Vocal unit), “I can’t run away” (Hip-hop unit), and JOSHUA and VERNON’s English track “2 MINUS 1.”

Lead single “Rock with you” fluidly weaves together a powerful synth riff, addictive guitar backing, and a 2-step rhythm for a smooth yet riveting listen. WOOZI, VERNON and JOSHUA participated in penning the lyrics, while WOOZI also participated in the composition.

Attacca also contains SEVENTEEN’s first song entirely in English, “2 MINUS 1” (a digital-only track) from the creative minds of JOSHUA and VERNON. Both JOSHUA and VERNON participated in its composition and songwriting to show their appreciation for and to repay SEVENTEEN’s fans around the world for their continued love and support. WOOZI also participated in its composition.

Attacca surpassed 1.4 million pre-orders globally on Day 1 of pre-order open, heralding the beginning of another career-high for the group. Expectations continue to rise as the return of the K-pop movers and shakers is sure to be bolder and hotter than ever before.

SEVENTEEN will drop their highlight medley giving fans a short preview of the Attacca tracks at midnight on October 19.

Jeon Somi – XOXO

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Today, Canadian-Dutch-Korean singer-songwriter, JEON SOMI, announces her debut album entitled XOXO, which is set for release next Friday, October 29^th via THEBLACKLABEL/Interscope Records. The 8-track album will include the K-Pop sensation’s most recent single “DUMB DUMB,” her 2020 Interscope debut single “What You Waiting For,” a larger than life anthem for which the video surpassed 7.5 million views in 24 hours, previous singles “Birthday” and “Outta My Head,” as well as four more brand-new songs. In addition, major music hitmakers such as THEBLACKLABEL’s founder, Teddy, along with R.TEE, 24, Pink Sweat$, and JEON SOMI herself, are credited producers on the album. XOXO is available for physical pre-order here, as well as a digital download version. See full track list below.

XOXO Track List:

1. DUMB DUMB

2. XOXO

3. Don’t Let Me Go (feat. Giriboy)

4. Anymore

5. Watermelon

6. Birthday

7. What You Waiting For

8. Outta My Head

About JEON SOMI

Born as Ennik Somi Douma in 2001 in Ontario, Canada, JEON SOMI grew up in Seoul, South Korea. After several commercial ventures, JEON SOMI ultimately became known after winning Produce 101, a South Korean TV singing competition, and subsequently became part of the project girl group I.O.I. After winning first place on Korean reality singing competition Produce 101, the young musician joined THEBLACKLABEL and began her musical partnership with producer Teddy. JEON SOMI emerged as a solo artist in June 2019 with her single “BIRTHDAY,” which has since amassed over 79M streams worldwide on Spotify and over 95M views on YouTube to date (Click HERE to watch). In 2020, JEON SOMI signed to Interscope Records as part of the label’s partnership with THEBLACKLABEL and released her previous single, “What You Waiting For,” which has racked up over 63.5M streams on Spotify alone and over 53.3M views on YouTube to date (Click HERE to watch). Most recently, she released her single, “DUMB DUMB”, which has amassed over 36M streams on Spotify and over 91M views on YouTube (Click HERE to watch) to date. In addition, JEONSOMI’s multifarious commercial and acting career has also included being global ambassador for Louis Vuitton, Samsung and coverage in Vogue and W.

BTS × LOUIS VUITTON

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BTS Generates Millions of Impressions for New Louis Vuitton Collection, K-Pop Stars Have Become Fashion’s Most Powerful Influencers

Louis Vuitton’s new partnership with K-Pop superstars BTS proves the band has a monumental impact on every brand they touch. Louis Vuitton designer Virgil Ablog surprised the world this morning with the release of a spin-off fashion walk film named “Hope,” dedicated to his fall/winter 2021 menswear collection modeled by the world’s biggest boyband. Earlier this year, BTS became LV house ambassadors and have been advocating for the monogrammed pieces ever since.

The film marks their first big showcase for the brand. Directed by Jeon Gowoon and Park Syeyoung, each member presents a new look designed by Abloh as they navigate through an industrial space filled with Vuitton models, and a seemingly endless maze of staircases. Because this is their first official high-fashion collaboration (previously only with athletic brands such as Puma and Fila), the BTS fanbase ARMY was absolutely geeking out on Twitter.

Thanks to their appearance in Louis Vuitton’s #LVMenFW21 fashion show in Seoul, where members of the group modelled the new collection, social media posts featuring BTS accounted for 9 of the top 10 most engaged fashion-related posts in the past week. BTS-related LV posts generated 5M interactions for the brand in just 7 days, compared to less than 400K mentions for all non-BTS mentions of LV in the same period.

Not to mention, with their ever-growing popularity; BTS bounds onto the Billboard Hot 100 songs chart at #1 with their new single “Permission to Dance.” The boyband supplants itself at the top spot, as their previous single “Butter” falls to #7 after seven consecutive weeks at #1.

The dominant influence of K-Pop is just one of many surprising trends that has changed the way consumers engage with fashion and beauty brands over the past year. The latest Fashion & Beauty Industry Report from consumer intelligence platform, Talkwalker, reveals how apparel and cosmetics brands are adapting to the latest changes in post-pandemic consumer behavior, from the rise of athleisure culture to the resilience of makeup tutorials as a content cornerstone even during the work-from-home era.

“Whether people are working from home or in the office, how they look and feel remains a consistent topic of online conversation. What’s changed is who people look to for their sense of style and self,” said Todd Grossman, CEO of Talkwalker Americas. “K-Pop stars like BTS have shown a tremendous ability to excite fans to engage with brands on a seismic level, bringing far more attention to a legacy brand than it could otherwise generate on its own.”

OMEGA X – VAMOS

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OMEGA X THRILLS WITH DEBUT MINI ALBUM VAMOS AND MUSIC VIDEO FOR TITLE TRACK

“The 11 of us are thrilled about the release of Vamos, our new start, and meeting the fans. We poured our hearts into this album, and now we’re ready to share that energy with our fans. Thanks for your attention and support for our first album.” – Omega X’s Jaehan

Omega X have made their official debut with their five-track Mini Album Vamos, along with a music video for their title track.

“Omega X’s first mini album Vamos means ‘let’s go’ in Spanish. The album starts with the instrumental ‘OX Win Ha!’ which introduces our worldview. Then there’s the title track ‘Vamos,’ full of strong beats and hip-hop elements, followed by the charming and kitschy ‘Ice Tag’ and EDM track ‘Omega X.’ The last track ‘Younger’ is dedicated to our fans.” – Omega X’s Hangyeom

Introduced by Spire Entertainment as the “Avenger-class” boy group, the 11 members are excited for the second chance in their careers, as all of them have been a part of groups that are now inactive or disbanded. Their music video for Vamos features powerful beats and high-energy choreography. This Mini Album expresses the members’ excitement for a new beginning and their love, gratitude, and wishes for the fans to follow them on this new adventure.

ABOUT OMEGA X

Omega X is an 11 member K-Pop group signed with Spire Entertainment. Omega (Ω), the last letter of the Greek alphabet, symbolizes the end, while the letter X denotes the unknown with infinite possibilities. Combined, Omega X symbolizes constant change and growth.

All the members of Omega X have previously appeared on reality TV audition programs or debuted with other K-Pop acts. Now they are getting a fresh start and have re-introduced themselves to their fans through Spire Entertainment’s reality show, Loading – One More ChanX, ahead of their official debut in June 2021

The members and their agency believe that liking someone and becoming a fan is not simply a process of sharing the artist’s musical inspiration with their fans. Human empathy plays a big part in this. All the Omega X members have their own special stories, and through those stories, they hope that fans can relate and resonate with each member’s personality and music.

TRI.BE × CONMIGO

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UNIVERSAL MUSIC GROUP KOREA’S FIRST K-POP IDOL GROUP TRI.BE RELEASE SECOND SINGLE ALBUM CONMIGO TODAY

FEATURING SINGLES “RUB-A-DUM” AND “LORO”

LISTEN HERE

WATCH THE VIDEO FOR “RUB-A-DUM” HERE

Accelerating a rapid rise to the forefront of international culture, Universal Music Group Korea’s first K-POP idol group TRI.BE unveil their second single album, CONMIGO, today via Republic Records. It features the title track “RUB-A-DUM” and accompanying anthem “LORO.”

Listen to CONMIGO HERE and watch the video for “RUB-A-DUM” HERE.

With CONMIGO, these fiery and fierce women only amplify their signature “Girl Swag,” radiating contagious levels of self-confidence in the process. As a high-energy call-to-arms, “RUB-A-DUM” nods to the timeless tale of the Pied Piper and invites fans to follow with the clarion call, “Everybody come play with TRI.BE,” making it irresistible not to. On “LORO” –– Spanish for “Parrot” –– the girls preach about finding confidence in your true self. They might just urge you to mirror TRI.BE’s magnetic moves, much like a parrot. Musically, the multinational group fuses a young and refreshing mix of Dancehall and Reggaeton beats like never before.

Reflective of the title, CONMIGO—or “With Me” in Spanish—the group welcomes an alliance from all who want to come and dance. “RUB-A-DUM” and “LORO” elevate TRI.BE’s eclectic charisma as they continue their boundary-breaking rise.

The first-of-its-kind quadrilingual group, TRI.BE consists of seven members—SONGSUN, JINHA, HYUNBIN, and SOEUN hailing from Seoul, KELLY and JIA from Taipei, and MIRE from Tokyo—and speaks and sings in English, Chinese, Japanese, and Korean. Earlier this year, they teamed up with two of the most famous K-POP producers in the world, S.Tiger [BEAST, IU, 4Minute, MOMOLAND, EXID, T-ARA, Apink, HyunA] and none other than TRI.BE’s supportive big sister EXID’s ELLY, for the two tracks on TRI.BE Da Loca, generating 5 million-plus streams right out of the gate. The two have come together yet again with TRI.BE to create another masterpiece, CONMIGO.

TRI.BE’s name comes from the combination of the words “triangle,” which signifies the most perfect shape, and “being,” leading to the slogan, “We are perfect as we are.” The group conveys the message of self-love and confidence by unapologetically flaunting their key concept of “Girl Swag.”

“Girl Swag” goes global in 2021 thanks to TRI.BE.

TRI.BE SOCIALS

YouTube
Twitter
Facebook
Instagram
TikTok

Beijing’s Tourism Revenue Drop

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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 7^th. 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.