Chinese tourist numbers to South Korea fell by a massive 39.4% in March as growing tensions between the two nations over THAAD grows just a fortnight out from the launch of Korea’s first integrated resort.
Paradise City, the US$1.1 billion partnership between local casino operator Paradise Co and Japanese pachinko operator Sega Sammy Holdings, is scheduled to open on 20 April in the city of Incheon, near Seoul.
However, preliminary estimates by Korea’s Ministry of Culture, Sports and Tourism paint a dark picture with Chinese tourism for the first three months of the year down an estimated 9.1% including 39.4% in March alone. Paradise City is specifically targeting Chinese players as its primary revenue source, with locals play in Korea restricted to the remote Kangwon Land property.
China last month implemented a ban on Chinese travel companies selling holiday packages to South Korea as well as ordering the cancellation of flights and cruises in response to the announcement that Korea intended to install the THAAD anti-missile system.
The one bright spot is that total tourist numbers for the quarter have reportedly risen by 3.2% on the back of Japanese and Southeast Asian tourists.
