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KOREA MARKET OVERVIEW PRESENTED BYGSO - KOREA
JANUARY 2015
CONTENTS
• Team Introduction • Korea Market Overview.• On untapped potential from Korea• Requirement from Sales office/retails • Travellers requirement from Hotels.• Supports from Hotel
GSO – Korea: Discover The World KOREA
About Discover Korea & Our Strength
• 32 years of global travel sales & marketing expertise. – Discover Korea since 2010.
• An energy and passion to deliver inspiring work
• Strong retail and corporate trade network with key decision makers of the industry, including travel agents, tour operators and airlines.
• Expertise in Activities : Regular sales blitzes, travel trade seminars, value added promotions, participation in trade and consumer trade shows, telemarketing, trade press exposure including articles, press releases and direct mail campaigns using e-newsletters, flyers and promotional materials.
5
Team Introduction
SS Paik, DirectorS.S. Paik is director of Discover’s office in Seoul, Korea. He is also a present of Sharp Aviation K and having served since 1982.
Office Address: # 1002 Seoul Center Bldg., 91-1, Sogong-dong, Jung-gu Seoul, 100-070 Korea
Location within walking distance of key agents and airline partners
EG Park, General ManagerPR, Sales & Marketing Manager at Discover since 2010.Experience Caesars Entertainment(2010~) Steigenberger Hotel Group(2011~) Expedia TAAP Hyatt Corporation(2010~2012)
KOREA Market Overview
KOREA Market Overview - Environment
Market Population(2014) : 50M
Outbound Market size (2014) : 14.8M
Ranks 15th in the world by nominal GDP
Seoul
Busan
Int’l Airport : 8 Domestic Airport : 7
2014 GDP growth rate : 3.7%
Private consumption growth : 3.7%
No of IATA Agency : over 700
• Over 90% of households having internet access on a broadband basis.
• The rate of smart phone penetration for Koreans in 2014 is estimated to be 81%
• 66% of Korean leisure travelers generally booking trips online including smart phone.
• 80% of Korean leisure travelers use SNS during their travel.
• Kakao Talk (152M worldwide as of August 2014)No. 1 mobile messenger service
• Kakao StorySub application of Kakao Talk, providing similar service to Facebook
8
KOREA Market Overview – SNS Trend
Korean Outbound travel to Singapore
Korean Outbound travel to Malaysia
KOREA Market Overview – Outbound
Country Visitors Share YOY
1 China 3,969,000 26.7% -2.5%
2 Japan 2,456,165 16.5% 20.2%
3 Thailand 1,359,924 9.2% 8.7%
4 USA 1,308,957 8.8% 12.5%
5 Philippines 1,165,789 7.9% 13.1%
6 Hong Kong 1,083,543 7.3% 0.5%
7 Vietnam 748,727 5.0% 6.8%
8 Macau 474,269 3.2% 6.6%
9 Singapore 471,767 3.2% 6.0%
10 Cambodia 435,009 3.0% 5.7%
Top 10 13,474,150 90.8% 6.4%
All out bounds 14,846,485 100% 8.1%
2013 Top 10 destinations for Korean
(Excluding European countries)
KOREA Market Overview – Travel to Singapore
10
Visitor Arrivals to Singapore, January to June 2014
Korean visitor arrival growth had risen on the back of the additional travel route by Scoot between Seoul and Singapore
(Source : Singapore tourism board)
KOREA Market Overview – Travelers to Singapore (2013)
Gender Age GroupLength of Stay(Days)
(Source : Singapore tourism board)
12
Rank Travel Agency Remark Rank Travel Agency Remark
1 HANA TOUR Wholesaler 16 VERY GOOD TOUR
2 INTERPARK OTA 17 GLOBAL PASSAGE CWT
3 MODE TOUR Wholesaler 18 NAEIL TOUR FIT
4 ONLINE OTA 19 WEB TOUR OTA
5 TOP TRAVEL 20 LOTTE JTB
6 REDCAP Corporate ㅣ LG 21 TONGSUNG SAMWOO
7 SUNLAND 22 TOUR BAKSA FIT
8 TIDE SQUARE 23 LOTTE TOUR
9 YELLO BALLOON 24 LOTTE CARD AMEX
10 SM C&C HRG 25 JAU TOUR
11 SEJOONG Corporate ㅣ Samsung 26 HYUNDAI DREAM
12 TOUR 2000 27 SMILE GLOBAL BCD
13 CLUB ROTHEM OTA 28 M& SERVICE Corporate ㅣ SK
14 HANJIN TRAVEL Wholesaler 29 MYUNGSAN
15 V.I.P TRAVEL 30 KB KOOKMIN
IATA : approx. 700 Non IATA : approx. 7,000
KOREA Market Overview – Air Tickets to Singapore (2013)
On untapped potential from Korea
On untapped potential from Korea
FIT is growing rapidly – JV promotion with OTAs Family Group – Offer special benefit (ex. child free)
Competitive with Thailand and Vietnam ( Nha Traing is being competitive as a new developed destination) Approach MICE with Special Benefit offer Offering special benefit for group organizer & travel agent to motivate /reward
Travellers requirement from Hotels.
Travelers requirement from hotels
Korean expect/prefer various breakfast buffet items including Asian cuisine
FIT : Guarantee connecting room(or next room) in case of multiple rooms booked
MICE: Reply with Quotation & Availability within 24 hours.
Corporate : Early-check/Late check-out with surcharge
Airport Pick up/Drop off Service
Information in Korean Language
Support from Hotels
Guest Feedback(in Korean) to analyze
Support 1 night complementary stay with site inspection for qualified travel agents
Provide information for E-newsletter to trade