Can Tourism Save Korea’s Regions?
South Korea is facing more than just a declining birthrate. With shrinking communities and an aging population, some regions are at risk of disappearing altogether. One powerful solution is gaining attention: revitalizing inbound tourism to boost regional economies and counter demographic decline.
Here are the key highlights:
🚨 Population Decline: A National Emergency
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Fertility rate at a record low: Korea's birthrate has fallen to 0.7, with projections pointing even lower.
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Vanishing workforce: University admissions could drop by half within 15 years, significantly shrinking the labor pool.
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Stagnant growth ahead: Economic growth could fall to 0% or lower by the 2050s, with the population expected to drop below 40 million by 2070.
🧭 A New Approach: Growing the "Economic Population"
Instead of only focusing on increasing the birthrate, there's growing emphasis on expanding the consumption base—and tourism offers a fast-track solution.
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Spending power of tourists: A typical international visitor spends about ₩1.7M in one week, equivalent to 9% of per capita consumption.
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Scalable impact: Attracting 30–50 million tourists per year could simulate an increase of 2.7–4.5 million people in economic activity.
🌍 Learning from Global Leaders
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Japan has diversified its tourism offerings across multiple regions with strategic direct flights and localized attractions.
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Spain, pre-pandemic, welcomed over 80 million tourists annually, adding a "consumption population" equivalent to 20% of its own citizens.
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In contrast, over 80% of tourists in Korea stay only in Seoul, limiting the benefits to other regions.
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