Flow of business travellers to Korea increases as MICE tourism surges, boosts outbound tourism
Starting today, a large group of finance professionals from India are on a corporate tour to Korea. This group comprising 3400 executives, is visiting Korea till 30th October as a part of their International Training Program.
NEW DELHI/SEOUL: The flow of tourist traffic from India to South Korea has witnessed an upward trend recently with more and more corporate travelers making their way to this Asian country for business purposes. With this, the overall traveller number from India to Korea was recorded at 71,715 at the end of August indicating a surge in the outbound tarveller movement during the current year.
Although for people in general in India, Korea remains a moderate travel destination, the increased bilateral trade relations and activities have given the much-needed impetus to the number of entrepreneurs and corporate executives visiting Korea. It’s for the first time India-Korea bilateral trade crossed the USD 28 billion mark in 2022-23, the highest ever so far. Interestingly, the number of Korean companies in India has also shot up to cross the 800 mark from around 500 in 2019.
Starting today October 11, a large group of financial professionals from India are on a corporate tour to Korea. This group from across India, comprising 3400 executives of varied categories, is visiting Korea between till 30th of October as a part of their International Training Program.
According to a statement by the Korea Tourism Organization (KTO), India MICE tourism from India to Korea is increasing again this year, with a number of corporates across different sectors sending their employees for meetings and incentive tours. It said that this (trend) has also left a boosting effect on the overall traveller numbers from India to Korea, which stood at 71,715 at the end of August.
Speaking on this development, Myongkil Yun, Director of KTO India said, “MICE has always been one of our focus sectors in India, and seeing the growing interest and actual travel happening to Korea, definitely feels like our promotional efforts are paying off. KTO also regularly updates the incentive schemes for MICE groups, to be able to give the best benefits for corporates choosing Korea as their preferred destination. The introduction of Korea Unique Venues is one such initiative.”
Korea Unique Venue refers to spaces and facilities that provide a unique experience that captures the charms and characteristics of Korea while allowing the hosting of MICE events. KTO provides additional support towards incentive and corporate events including a Korea Unique Venue in the itinerary, ranging from entrance fees, rental fees, banquets, experience programs, and more.
With the addition of more venues across Korea, the number of Korea Unique Venues stands at 52 this year. As part of the ongoing promotions for MICE for 2023, the Korea Tourism Organization (KTO) India office is also organizing a large-scale MICE Roadshow in Mumbai today on 11th October. The day-long event being held at Four Seasons in Mumbai, will include a Travel Mart during the day and a Korea MICE Night in the evening.
Efforts are on to increase overall outbound traffic from India to Korea by KTO, India which has recently organized a series of mega-events to boost the flow. Apart from signing Indian TV Actress Anushka Sen as a Brand Ambassador to promote Korean tourism in India, KTO organized a Korean Festival 2023 in Delhi and the Korea Culture and Tourism Festival 2023 in Gurugram with LEE Young-geun, Executive Director, International Marketing Department, KTO led a high-level delegation of KTO officials to Delhi in August this year.
Even though the number of foreign visitors to South Korea has increased rapidly in recent years, rising from 13 million in 2017 to 15 million in 2018 and more than 17 million in 2019. Experts believe that the increase is largely attributed to the Hallyu (Korean Wave) craze. In particular, the number of tourists from Asian countries is on the rise, including Chinese group tours as well as those coming from Indonesia and Thailand.
However, the overall number of Indians visiting Korea is not good. In 2016, the number of Indian tourists to Korea was at its peak at 195,000, and the number did not increase after that. In deep contrast, the total number of foreign tourists visiting Korea in the same year was a whopping 17 million. The year 2023 seems to be promising for outbound tourism to Korea as business activities witness an upward trend between the two nations.
