South Korea: hotel market revenue growth 2027

In 2022, the revenue of the hotel industry in South Korea grew by 48 percent compared to the previous year. While the market contracted by almost 52 percent in 2020 due to the beginning of the coronavirus (COVID-19) pandemic, subsequent years have shown high positive growth. This is estimated to continue until 2024, after which positive growth will slow down again.

Revenue growth of the hotel industry in South Korea from 2018 to 2022 with forecasts up to 2027

Characteristic	Revenue growth
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Supplementary notes

The hotels market includes hotels and professionally-run guest houses, but excludes privately-owned rentals.

The source did not provide a date of publication. The date used here is the date of last update.

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