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Research Report

Globalization Strategies for the Tourism Industry

The domestic tourism industry has high growth potential due to its excellent ICT technology and talent, as well as leading K-content in world culture. However, in reality, the industry's contribution to GDP ranks among the lowest in OECD countries. We explore various reasons for this phenomenon and ways in which Korea can successfully enter the global market.

 

  1. To transition into a leading tourism nation, Korea needs the digital transformation (DX) of the tourism industry and the expansion of global services in the domestic tourism sector.
  2. Obstacles to globalization in the domestic tourism industry include an ecosystem dominated by small business owners, unique regulatory barriers, and limited awareness of the tourism industry.
  3. To achieve global growth, platform and solution providers need to adopt a global mindset and strategically target international markets according to their business models.
  4. The government should work actively with local governments and tourism operators to develop inbound travel products and provide a regulatory environment, financial support, and infrastructure in line with global standards to facilitate the international expansion of tourism operators.