Korean Hotel Investment Outlook

Global interest to fuel recovery

March 22, 2022
  • Minjoon Kim

While COVID-19 has led to a setback in the South Korea tourism sector, it has also proved its resiliency and enabled a “reset” which will poise the sector for a strong recovery. Further, the favourable supply and demand environment created by the reduction in supply through alternative-use conversion in 2020 and 2021, along with the recovery of international visitation and corporate travel is anticipated to fuel South Korea’s post COVID-19 recovery. 

We identified five trends to drive the tourism recovery in South Korea:

  1. Diversification of source markets, as demand from Mainland China returns slowly

  2. Recovery led by luxury segment driven by leisure demand in the near term

  3. Seoul outpacing provincial markets’ recovery upon return of international visitation

  4. Favorable supply and demand environment

  5. Growing interest from domestic and international investors resulting in strong transaction market

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