S. Korea witnesses slump of 1.14 million Chinese tourists

Published on : Monday, July 10, 2017

south koreaThe South Korea Tourism Organization had declared on 9th July that as much as 841,952 Chinese tourists had visited South Korea between March and May this year, when the Chinese government had banned all travel to South Korea.

 

Last year, the number of Chinese visitors arriving in South Korea was around 1,989,833 from March to May.

 

The duty free shops in South Korea had taken a direct hit during this point of time.

 

For instance, the sales of Lotte Duty Free witnessed a 35% slump in Chinese customers or 350 billion between mid-March and the last part of last month. The industry sources claim that the economic retaliation from China that followed the deployment of THAAD in South Korea had resulted in a loss of an overwhelming 600 billion that won a significant portion of local duty free shops.

 

Lotte Mart’s business in China is currently in the face of a perilous challenge too.

 

It boasted of 112 stores in China. But, right now, about 87 have been shut down, leading to a loss of approximately 400 billion won.

 

In the hotel sector, the bookings dropped by 30% year-on-year in Lotte Hotel alone in the period between March and May. Things are murky even for the small hotels. A lot of them are presently close to closure and their vacancy exceeds 90%.

 

 

 

 

Tags: , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
 
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo

ADVERTISEMENT

  • 02 WTM London 2018
  • 03 imexamerica 2018
  • 07 miltcongress 2018
  • 08 theleisureshow 18
  • 09 cibtm 2018
  • 09 Seatrade Cruise Med 2018
  • 10 ITE-HCMC 2018
  • 13 aite 2018
  • 14 traveltechme 2018
  • 15 TravelDaily TDC 18
  • 16 OTDYKH 2018
  • 17 Hotel Show dubai 18
  • 18 hospitalityqatar 18
  • 18 Hotel Management Asia Summit 2018
  • 18 thincindonesia 2018
  • 19 bricsaconsulting 2018
  • 20 CITE_TTW 2018
  • 20 europecongress 18
  • 20 sahicsouthamerica 2018
  • 21 bitmchina 2018
  • 22 Hotel Management Singapore Summit 18
  • 23 PTM 2018
  • 30 PATA

TRAVEL INDUSTRY EVENTS

Get our toolbar!
Review www.travelandtourworld.com on alexa.com