South Korea Online Travel Market Overview, 2028

South Korea is a cultural jewel in East Asia, with old temples coexisting peacefully with busy metropolises. Aside from its rich history and colorful culture, the country has enthusiastically embraced the digital era, bringing its online travel business to the forefront of innovation. South Korea's reputation as a worldwide technological hub is matched by its online travel business. A technologically literate populace drives the adoption of cutting-edge platforms where travel planning and booking are as simple as a few smartphone clicks. Travelers who want convenience in the palm of their hands will appreciate mobile optimization and user-friendly interfaces. South Korean online travel excels at providing immersive cultural encounters. Visitors can virtually take part in traditional events, go on virtual museum tours, and even learn how to make hanbok, the country's traditional garment. Cultural immersion promotes cross-cultural understanding and respect. South Korea's Hallyu," or Korean Wave, which includes K-pop, K-dramas, and cosmetics, has resulted in an increase in pop culture tourism. Online travel services cater to fans from all over the world by offering curated trips to filming locations, fan meet-and-greets and K-pop events. The integration of travel services is one of the most impressive elements of South Korea's internet travel business. Platforms provide all-inclusive solutions such as flight bookings, hotel reservations, transportation passes, and guided excursions. This integration streamlines the travel experience by connecting all aspects of the journey. South Korean gastronomy is famous around the world, and online travel companies capture the essence of this culture with culinary tours, cooking workshops, and restaurant suggestions. Travelers can virtually engage in a culinary experience that tantalizes the taste senses, from hot street food to delicate royal cuisine. According to the research report "South Korea Online Travel Market Overview, 2028," published by Bonafide Research, the South Korea Online Travel market is expected to grow at 13.28% CAGR from 2023 to 2028. The incorporation of smart technology into the internet travel business is driven by South Korea's tech-savvy population. Mobile apps, QR codes, and digital guides simplify travel by making navigation and booking easier. South Korea's internet travel industry provides information and services in various languages, making it accessible and welcoming to international visitors. Seoul, South Korea's vibrant capital city is a mix of modern skyscrapers, old palaces, and bustling markets. Travelers can book city tours online, visit ancient landmarks such as Gyeongbokgung Palace and Bukchon Hanok Village, and explore famous neighbourhoods such as Myeongdong and Gangnam. Jeju Island, often known as the "Island of the Gods," has spectacular natural scenery such as volcanic craters, waterfalls, and beaches. Visitors can plan flights, lodging, and guided tours to visit destinations like Seongsan Ilchulbong Peak and Manjanggul Cave. Gyeongju, sometimes known as a "museum without walls," is steeped in history and home to a number of UNESCO World Heritage monuments. Bookings for historic landmarks such as Bulguksa Temple, Seokguram Grotto, and ancient burial mounds are made easier through online platforms. South Korean society has a strong mobile-centric culture, with a large section of the population using cellphones for a variety of activities, including travel planning and booking. Because of this mobile-first strategy, online travel providers have created user-friendly mobile apps and mobile-optimized websites. To appeal to domestic and international tourists, online travel platforms focus on offering localized content and information in multiple languages. This method provides accessibility while also improving the user experience.

In terms of services market is bifurcated into transportation, travel accommodation, vacation packages, and others (travel insurance, visas and passport services, currency exchange services, travel spa and wellness services, travel gear and gadgets, etc.). The transportation service type is playing an important part in the development of South Korea's online travel market. South Korea has a vast transportation system that includes local and international airplanes, high-speed trains, buses, and other modes of transit. Because of this connectivity, tourists may quickly find and book transportation services online. South Korea is well-known for its technologically sophisticated population, which swiftly accepts new technology and internet services. This technologically advanced culture has aided in the quick acceptance of online travel booking services. For transportation services, online platforms frequently offer competitive pricing, special deals, and discounts. This is appealing to budget-conscious travelers looking for the best deal. South Korea's online travel sector is also focused on overseas flights. Travelers may easily search for and book flights to many overseas destinations using online platforms. Online booking platforms often include flexible booking options, allowing travelers to adjust or cancel their transportation reservations if their plans change. Based on device market is segmented into laptop/desktop devices, and mobile devices. Mobile device segment is expected to register highest CAGR of the market. South Korea is well known for its cutting-edge technological culture. People have grown accustomed to utilizing digital gadgets for a variety of purposes, including travel planning and booking. Smartphones provide unparalleled convenience. Travelers can research, compare, and book travel services at any time and from any location, removing the need for a desktop computer or a local travel agency. South Koreans lead hectic lifestyles, and mobile devices help them manage many chores, including travel planning, as part of their daily routines. South Koreans have quickly adopted mobile payment techniques that are compatible with completing secure and fast transactions on mobile travel platforms. Based on mode of booking market is segmented into online travel agencies (OTAs) and direct travel suppliers. OTAs offer a convenient platform for travelers to search, compare, and book a variety of travel services such as flights, lodging, tours, and more. The fact that these platforms are accessible via desktop and mobile devices has added to their appeal. Many online travel agencies (OTAs) provide extensive platforms that allow travelers to plan and book their entire vacation in one spot. This includes flights, lodging, transportation, and activities, which simplifies the booking process. OTAs frequently provide bundled packages that comprise various travel components, such as flights and lodging. These bundles might help you save money and streamline the booking procedure. Considered in this report: • Geography: South Korea • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028

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Manmayi Raval

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Aspects covered in this report: • South Korea Online Travel market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Service Type: • Transportation • Travel Accommodation • Vacation Packages • Others (Travel Insurance, Visas and passport services, Currency Exchange Services, Travel spa and wellness services, Travel gear and gadgets, etc.) By Device: • Laptop/Desktop Devices • Mobile Devices

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By Mode of Booking: • Online Travel Agencies (OTAs) • Direct Travel Suppliers The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience: This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Online Travel industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.