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Emerging Opportunities and Growth Prospects in the South Korean Travel Intermediaries Industry, Analyses and Forecasts to 2016

Publisher Name » BRICdata
Published Date » 2012-06-22
No. Of Pages » 42

Synopsis
This report provides market trend and market growth analysis of the travel intermediaries industry in South Korea. The report includes:
  • In-depth analysis of the travel intermediaries market in South Korea 
  • A comprehensive understanding of specific market trends, market sizing for a period of ten years (2007-2016), detailed segmentation and analysis of demand drivers 
  • In-depth analysis of market-entry strategies, including regulatory frameworks, entry routes, mergers and acquisitions and key marketing strategies
Summary

Factors such as South Koreas developing economy and easing of restrictions on movement are both supporting the growth of travel and tourism in South Korea. South Korea is one of the most attractive countries for inbound and outbound tourism businesses in the world. The country was the seventh-largest inbound tourism destination by volume in the Asia-Pacific region in 2011. Rising tourist volumes and subsequent growth in the South Korean travel intermediaries industry can be attributed to various drivers including the countrys robust economic growth, government initiatives to promote tourism and tourism-related activities, increasing volume of business activities, and high internet penetration that encourages the growth of buying travel and tourism services online.

Scope
  • This report provides an extensive analysis of the travel intermediaries industry in South Korea
  • It provides historical and forecast market sizes for the South Korean travel intermediaries industry
  • It offers detailed analysis of the factors driving the growth of the travel intermediaries industry in South Korea including demand drivers such as total tourist volume, tourist volume by type, spending patterns of domestic and international tourists and internet penetration
  • The report details the government regulatory frameworks in the South Korean travel intermediaries industry, market entry routes adopted by international travel companies to enter the South Korean market and the expansion strategies of local and international travel companies
  • The report also offers marketing strategies adopted by the large travel intermediaries in the South Korean market to attract and retain customers
  • It provides examples of key travel intermediaries companies operating in the South Korean market
Reasons To Buy
  • Take strategic business decisions using historic and forecast market data related to the South Korean travel intermediaries industry and each sector within it
  • Identify the growth opportunities and industry dynamics within the travel intermediaries industrys key categories, including travel agents, tour operators and online travel sites
  • Take informed decisions and formulate effective marketing strategies based on the reports detailed market insights on the travel intermediaries market
  • Assess the competitive landscape in the travel intermediaries industry in South Korea and formulate effective market-entry strategies
Key Highlights
  • The South Korean travel intermediaries industry is projected to grow at a CAGR of 4.9% over the forecast period (20122016). The key growth drivers for this industry include the countrys rising average disposable income levels, the high number of business opportunities, the lowering inflationary forecast, positive employment outlook, and increasing volume of corporate and leisure travelers.
  • The Ministry of Culture, Sports and Tourism of the Republic of Korea now permits the establishment of wholly foreign-owned travel agencies in the country and has also lifted the restrictions for foreign-invested travel agencies to establish branches in South Korea.
  • The entry of leading foreign operators, such as Expedia, Carlson Wagonlit Travel and BCD Travel, in the highly fragmented South Korea online travel site market is expected to lead to significant consolidation over the forecast period.
  • Metasearch engines is one of the innovative product strategies that travel intermediaries are offering to their customers in order to provide fast services and to differentiate themselves from the competition.
  • Travel service providers are attempting to capitalize on the growing South Korean mobile phone base by offering travel applications that can allow users to make bookings from their mobile phones.
Table of Content

1 Executive Summary

2 South Korean Travel Intermediaries Industry Market Environment
2.1 Macroeconomic Fundamentals
2.1.1 GDP at constant prices
2.1.2 Inflation rate
2.2.1 Annual disposable income
2.3.1 Unemployment rate

3 Market Size and Growth Potential of South Korean Travel Intermediaries
3.1 Travel Agents
3.1.1 Market size trend analysis
3.1.2 Travel agents market size by revenue source
3.2 Tour Operators
3.2.1 Market size trend analysis
3.2.2 Tour operators market size by revenue source
3.3 Online Travel Sites
3.3.1 Market size trend analysis
3.3.2 Online travel sites market size by revenue source

4 Key Demand Drivers and Challenges for South Korean Travel Intermediaries
4.1 Demand Drivers
4.1.1 Tourist volume
4.1.2 Tourist volume by type of tourist
4.1.3 Spending pattern of domestic and international tourists
4.1.4 Total internet subscribers
4.2 Main Challenges

5 Market Entry Strategy for South Korean Travel Intermediaries
5.1 Market Regulations
5.2 Market Entry Route

6 Marketing and Growth Strategies for South Korean Travel Intermediaries
6.1 Metasearch Engines
6.2 Mobile Travel Applications
6.3 Cross-Marketing Activities
6.4 Foreign Travel Intermediaries are Launching Sites in the Korean Language
6.5 Utilizing Social Media

7 Competitive Landscape of the South Korean Travel Intermediaries Industry
7.1 Travel Agents Competitive Landscape
7.2 Tour Operators Competitive Landscape
7.3 Online Travel Agent Competitive Landscape
7.4 Company Profile
7.4.1 HanaTour Service Inc. company overview
7.4.2 Mode Tour Network Inc. company overview

8 Appendix
8.1 About BRICdata
8.1.1 Areas of expertise
8.2 Methodology
8.3 Disclaimer

List of Tables


Table 1: South Korean GDP at Constant Prices (US$ Billion), 20072016 (Base Year 19992000)
Table 2: South Korean Inflation Rate (%), 20072016
Table 3: South Korean Annual Disposable Income (US$ Billion), 20072016
Table 4: South Korean Unemployment Rate (%), 20072016
Table 5: South Korea Total Market Size of Travel Intermediaries (KRW Trillion), 20072011
Table 6: South Korea Total Market Size of Travel Intermediaries (KRW Trillion), 20122016
Table 7: South Korea Market Size of Travel Agents (KWR Trillion), 20072011
Table 8: South Korea Market Size of Travel Agents (KWR Trillion), 20122016
Table 9: South Korea Market Size of Travel Agents by Revenue Source (KWR Trillion), 20072011
Table 10: South Korea Market Size of Travel Agents by Revenue Source (KWR Trillion), 20122016
Table 11: South Korea Market Size of Tour Operators (KWR Trillion), 20072011
Table 12: South Korea Market Size of Tour Operators (KWR Trillion), 20122016
Table 13 South Korea Market Size of Tour Operators by Revenue Source (KWR Trillion), 20072011
Table 14: South Korea Market Size of Tour Operators by Revenue Source (KWR Trillion), 20122016
Table 15: South Korea Market Size of Online Travel Sites (KWR Trillion), 20072011
Table 16 South Korean Market Size of Online Travel Sites (KWR Trillion), 20122016
Table 17:South Korea Market Size of Online Travel Sites by Revenue Source (KWR Trillion), 20072011
Table 18: South Korea Market Size of Online Travel Sites by Revenue Source (KWR Trillion), 20122016
Table 19: Multinational Travel Intermediaries Operating in South Korea
Table 20: South Korean Leading Travel and Tour Companies by Twitter Accounts, 2011
Table 21: HanaTour Service Inc. Key Facts
Table 22: HanaTour Service Inc. Main Services
Table 23: HanaTour Service Inc. Key Employees
Table 24: Mode Tour Network Inc. Key Facts
Table 25: Mode Tour Network Inc. Main Services
Table 26: Mode Tour Network Inc. Key Employees

List of Figures


Figure 1: South Korean GDP at Constant Prices (US$ Billion), 20072016 (Base Year 19992000)
Figure 2: South Korean Inflation Rate (%), 20072016
Figure 3: South Korean Annual Disposable Income (US$ Billion), 20072016
Figure 4: South Korean Unemployment Rate (%), 20072016
Figure 5: South Korea Total Market Size of Travel Intermediaries (KRW Trillion), 20072011
Figure 6: South Korea Total Market Size of Travel Intermediaries (KRW Trillion), 20122016
Figure 7: South Korea Market Size of Travel Agents (KWR Trillion), 20072011
Figure 8: South Korea Market Size of Travel Agents (KWR Trillion), 20122016
Figure 9: South Korea Market Size of Travel Agents by Revenue Source (KWR Trillion), 20072011
Figure 10: South Korea Market Size of Travel Agents by Revenue Source (KWR Trillion), 20122016
Figure 11: South Korea Market Size of Tour Operators (KWR Trillion), 20072011
Figure 12: South Korea Market Size of Tour Operators (KWR Trillion), 20122016
Figure 13: South Korea Market Size of Tour Operators by Revenue Source (KWR Trillion), 20072011
Figure 14: South Korea Market Size of Tour Operators by Revenue Source (KWR Trillion), 20122016
Figure 15: South Korea Market Size of Online Travel Sites (KWR Trillion), 20072011
Figure 16: South Korean Market Size of Online Travel Sites (KWR Trillion), 20122016
Figure 17: South Korea Market Size of Online Travel Sites by Revenue Source (KWR Trillion), 20072011
Figure 18: South Korea Market Size of Online Travel Sites by Revenue Source (KWR Trillion), 20122016
Figure 19: South Korea Demand Divers of the South Korean Travel Intermediaries
Figure 20: South Korea Total Tourist Volume (Million), 20072016
Figure 21: South Korea Total Tourist Volume (Million), 20122016
Figure 22: South Korea Tourist Volume by Type (Million) and Travel Intermediaries Market Size (KWR Million), 20072016
Figure 23: South Korea Total Spending Pattern of Domestic Tourists by Category (KWR Trillion), 20072016
Figure 24: South Korea Internet Subscriber Base (Million), 20072016

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