Switzerland Tourism has been operating in KOREA since 2000. Over the past 22 years, this effort has led to a consistent rise in the number of Korean tourists choosing Switzerland, making it one of the favored travel destinations in Europe.

Directory

  1. Know the basics
  2. Bi-monthly market update
  3. Localized annual plan 2024

Know the basics

AddressSwitzerland Tourism Korea,
77 Songwolgil, Jongnogu,
Seoul 03165, Rep. Of Korea
Market ManagerJean Kim, Market Manager Korea
Contact+82 (0)2 3789 3250
jean.kim@switzerland.com
LinkedInwww.linkedin.com/in/jean.kim

Meet the Team

Sales & Marketing

Sally Kim, Sales & Marketing Coordinator Korea
Contact+82 (0)2 3789 3252
sally.kim@switzerland.com

Media

Mia Park, Media Relations and Social Media Marketing Manager
Contact+82 (0)2 3789 3251
mia.park@switzerland.com

Research and reports

  • ST market research page –– here
  • ST Research Report 2023 –– Download here
  • ST TMS 2017 –– Download here

Market activities

Last updated: 01/31/2024 by SK

Market update and reporting of finalized activities 2023

Click here for an overview slide for each finalized activity in the current year. ((Will follow))

Localized annual plan 2024

Last updated: 01/31/2024 by SK

Market Situation

Consumer Sentiment Index (CCSI) of Korea rose to 99.5 points in December of 2023 from 97.2 in a month earlier. It ended four consecutive months of decline in consumer confidence due to moderating inflation, a recovery in exports and hopes for an end to rate hikes. This has also influenced the travel sentiments through the steep increase of short haul travel extending to long haul travel early bird reservations.
STP remains the most attractive sales product in Switzerland also expanding the targets to higher age levels and family travelers. According to Consumer insights’ survey of 2023 Switzerland has the highest satisfaction rate of all travel destinations. The future concerns related to the steeply rising currency exchange rates which will influence the selection of future travel destinations.

Politics and Economy

The Korean economy is expected to grow at a slower pace in 2023 due to a number of risk factors, including the Russia-Ukraine war, the global economic slowdown, and domestic and foreign monetary tightening. The Bank of Korea expects the economy to improve in the second half of the year, but the growth rate is expected to remain below 2% and consumer inflation 3.4% in 2023. The Korean government is implementing a variety of policies, including expanding fiscal spending, lowering interest rates, and easing regulations, to overcome the slowdown in the economy. In 2024, the Korean economy is expected to show a moderate recovery thanks to the recovery of the global economy and efforts to boost domestic demand. The Bank of Korea has projected that the Korean economy will grow by 2.7% in 2024. This is a slight increase from the 2.2% growth rate in 2023. The Bank of Korea expected the economy to improve thanks to efforts to boost domestic demand and the recovery of the global economy.

Travel industry

Based on hotel stays in the first quarter of 2023, Korean tourists to CH has recovered by 70%. It is expected that the overseas travel will return to 2019 levels by the end of 2023, with a noticeable trend of longer vacation durations. The positive performance in the first quarter has motivated the Korean major KAs to secure a strong position in the market, anticipating a further increase in demand for international travel in the second half of the year. According to Consumer Insight Korea, 42.9% of respondents are planning to map out an overseas trip of more than 6 nights within the next 6 months. Consequently, major travel agencies are exerting considerable efforts to attract customers by offering unique products such as hotels near popular attractions, local restaurants, and places that are well-known on social media. They are differentiating their offerings to cater to various customer groups and targeting strategies to attract.

Social Media and Media Trends

OTT services that delivering videos, TV shows, and movies over the internet, have been gaining popularity in recent years in Korea and this trend is expected to continue in 2023. Korean people prefer to watch a variety of content conveniently and to consume media content that is tailored to their interests. Metaverse and AI technologies are being used in a variety of fields, such as games, education, and entertainment and these technologies are expected to further develop and be used by more people in the future. Social media is still very influential and will have an increasingly greater impact on politics, society, and culture. In particular, short-form contents are gaining popularity, with 7 out of 10 Koreans having experience with short-form content and usage increasing by 12.4% year-on-year. Instagram and YouTube have the highest average daily access frequency of more than 4 times, followed by Instagram with high responsive behaviour and YouTube with the highest proportion of consumption time and information exploration.

Personas

To ensure a customer-centric approach and cultivate empathy with future guests, personas-based marketing strategy has been implemented. This involves thoroughly understanding customer needs, communication preferences, purchasing behaviours, and information-gathering patterns throughout the customer journey. By obtaining valuable insights, we can refine our marketing and communication strategies accordingly. In the Korean market, we have specifically identified three personas (Max, Kris, and Jo) out of six to guide our targeted marketing efforts. Find more information about the personas here.  

Key Performance Indicators

Final 2022Budget 2023
Bed nights hotels2’300’0061’955’076
Turnover Total (CHF)656 Mio.557 Mio.
Growth 2022 – 2023-15.0%
Campaigning & Activation*
·      Top-Marketing Contacts247,537,327100’000’000
·      Customer reactions201’849210’000
·      Tracked Sessions on MyS.com per year107’788300’000
·      Bouncing Rate on MyS.com8.80%n/a
·      Engagement Rate on MyS.comn/a45.0%
·      Engagement Rate on Social Media1.44%n/a
Media work (KMM)*
·      Top-Coverage articles8485
·      Top-Coverage media contacts102’008’496105’000’000
·      Qualified Interactions with KMM192200
Trade (KAM)*
·      Influenced overnight with tour operators 48’166100’000
·      Influenced revenue with tour operators 10’114’86031’500’000
·      Specific group and FIT packages26210
·      Qualified Interactions with KAM730800
·      Meetings: RFP’s 21335
·      Influenced revenue business events99’900166’500
·      Qualified Interactions with business accounts4560
Partner cooperations
·      Investments tourism partnersn/an/a
* numbers incl. Canada