Korea was swept by financial turmoil which forced the nation to turn to the IMF. Since the IMF-led Bailout program, the Tourism Industry has faced a severe crisis due to the sudden drop in the number of outbound tourists. This article looks into the p...
Korea was swept by financial turmoil which forced the nation to turn to the IMF. Since the IMF-led Bailout program, the Tourism Industry has faced a severe crisis due to the sudden drop in the number of outbound tourists. This article looks into the problems and attempts to suggest ways to overcome the crisis and to improve the Tourism industry.
Consequently, hotels need to strengthen the competitiveness of their organizations through the business department, to remove the less profitable restaurants, and to take immediate action toward business effectiveness through the introduction of the Managing Director System. Through the political supports such as expansion of the Tourism Promotion Development Fund and readjusting the interest rate of the fund, hotels can improve their development.
On the other hand, improvement of Tourism - related educational programs in colleges and universities will result in more highly qualified tour agents. The schools are responsible for training their students to become experts in the field. There must be a distinctive line between the territories of wholesalers and retailers. There also must be legal supports for land operators.