South Korea’s tourism deficit hits 10-year high on China’s THAAD retaliation


South Korea’s tourism deficit hit a ten-year
high in the first quarter due to a plunge in the number of inbound travelers. The drop was mainly attributed to China’s
retaliation over the deployment of the THAAD missile defense system on the Korean Peninsula. According to industry data, the country’s
tourism deficit was seen at three-point-seven-four billion U.S. dollars in the January to March
period. The number of outbound travelers was tallied
at six-and-a-half million people, compared to three-point-seven million inbound visitors. In the wake of recent travel restrictions
imposed by Beijing, the number of Chinese tourists to South Korea tumbled 40 percent
in March compared to a year before.

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