South Korea’s ‘Tourism’ hits downfall in revenue due to China’s ban
Source :News Bharati English   Date :23-May-2017

Seoul, May 23: South Korea is suffering from lack of tourist visit in their country. The country suffers 40% fall in Chinese visitors in the month of March and is decreasing day by day. It is said that the Chinese are canceling their trips because of anger over the deployment of a controversial US-built missile defense system approved by South Korea.

According to the Korea Tourism Organization (KTO), the tourist visiting South Korea has been decreased more than 11% last month which is around 1.23 million annually.

As in this year, South Korea agreed to the installation of US Terminal High Altitude Area Defense (THAAD) system, the Chinese tourist visiting South Korea steadily decreased. China opposed the installation of THAAD in South Korea said it threatens security and fuels tensions in the region where South Korea argued that the installation is done to reduce the threat from North Korean missiles.

Many businesses in South Korea are depended on the tourist where not it is decreasing day by day which can affect countries revenue. China is the country which spends more on tourism.

Last year around 17 million Chinese went for an international tour of which around 8 million visited South Korea. The Chinese government has banned the tourist agencies for selling or taking people to South Korea’s visit.

South Korea said to had an estimated loss of $9.63 billion in tourism revenue. The business dependent on the nation’s tourists I said to have a loss of 70% in their total sales were from March the sales to Chinese tourist had already dropped by 40%.

Leaving China, South Korea now trying to attract more visitors from Japan and Southeast Asia to cope with the loss where Japanese tourist also decreased in the South because of growing regional tensions over North Korea.