First Korea, Next The World? China overtaking Japan as Largest Tourist Visitors

China has overtaken Japan in visitor numbers to South Korea for the first time on record in the first half of this year, ending a long-held Japanese dominance of the market, according to Nomura.

Chinese travelers accounted for more than a third of total tourists in South Korea in the first six months of the year, outpacing Japanese visitors, which made up about one quarter of the total in the same period, Nomura said in a report this week.

Young Sun Kwon, economist at Nomura, said that although China’s economic growth slowed in the first half of the year, the number of visitors to South Korea still managed to surpass the number of Japanese visitors, which declined in the duration.

“Chinese visitors increased by 46 percent year on year in the first half of 2013, up from 30 percent in the first half of 2012, while the number of Japanese visitors declined by 26 percent year on year this year, from a 30 percent increase last year,” Kwon said.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu