Tourism industry's Q2 outlook improves: poll

Tourism industry's Q2 outlook improves: poll

orea’s tourism industry is expected to recover under the current quarter from the previous quarter, but the overall business sentiment still remains subdued, a poll showed Thursday.

According to the survey conducted by the Korea Culture & Tourism Institute on 396 tour and hotel operators, the business survey index (BSI) stood at 77 in the April-June period.

The figure is higher than the first quarter’s 59, but it is still below the 100 mark, which means pessimists outnumber optimists on business conditions down the road.

The tourism industry suffered a slump in the summer season of last year from mass cancellations of hotels and tour packages following the first confirmed MERS case in the country in late May.

Amid a protracted economic slump, the tourism segment is still not on a full-fledged recovery path.

Casino operators were the most pessimistic about their businesses as Beijing’s anti-corruption drive has scared away affluent Chinese customers, the major source of income for foreigner-only casinos in the nation, the institute said.

Hotels were relatively more optimistic than other sectors as they expected an increasing number of travelers during the second quarter, on the back of major events organized by companies, it noted.

Meanwhile, another index gauging tourism-related spending stood at 108 for the second quarter, up from the first quarter’s 100, indicating that people are willing to spend more on trips.

Source:  http://www.koreaherald.com/view.php?ud=20160421000660

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