Photo provided to aid understanding of the article. Yonhap News
Despite a widespread perception that domestic travel is expensive, data shows Korean tourism offers strong price competitiveness compared with major global cities. Analysts say that amid a distorted image created by isolated “rip-off” controversies, now is the opportunity for Korea to emerge as a tourism hub in Asia.
Korea’s Competitiveness Revealed in Global Comparison
According to a report titled “Analysis of Price Competitiveness of Korean Tourism Cities Through International Comparison,” released by Yanolja Research on the 23rd, accommodation, transportation and dining costs in Seoul and Busan remain broadly lower than those of major global cities. The report points out that isolated cases of overcharging have been consumed as if they represent the entire market, widening the gap between reality and perception.
The difference in accommodation costs is particularly clear. Seoul’s average lodging cost is $89.90, only about 20 percent of New York’s $419.40. The gap is also significant compared with major European cities such as Paris ($332.70) and Rome ($257.40). Competitiveness is evident against major Asian cities as well. Seoul is more than 30 percent cheaper than Tokyo ($140.50) and Singapore ($127.80), making it attractive on price.
South Korea’s subway. Yonhap News
Average dining-out prices in major cities. Yanolja Research
AloJapan.com