China arrivals plunge -70% on Beijing THAAD pressure
Chinese tourists to South Korea continued their decline in July, as the diplomatic impasse between both ｃountries over the positioning of the Terminal High Altitude Area Defense (THAAD) missile system continues.
According to the most recent figures from the Korea Tourism Organisation (KTO), Chinese visits to the ｃountry registered 281,263 during the month – a decline of -69.3% year-on-year.
This compares with 254,930 visitors recorded in June (-66.4%).
Cumulatively, the number of Chinese arrivals to South Korea between January to July has sunk by 46.5% to total just over 2.5m compared to the same period last year.
The ｕpdated figures lay bare the impact of China’s curb on travellers to the ｃountry in continued opposition to South Korea’s stationing of the US-supplied THAAD missile system, which China says threatens its security.
TENSIONS ‘NEED RESOLVING’
What initially began as a ban on tourist group travel to the ｃountry earlier this year has effectively turned into an economic boycott on business and trade.
This has hit both domestic industry and duty free retailers with shop closures, as new President Moon Jae-in comes under increasing pressure to resolve the situation.
(Ed – Local and national media this month have pointed to public calls for the president to end ‘ambiguity’ in his stance on THAAD, after reports he approved further missile launchers in response to North Korea’s ballistic missile tests.)
Domestic demand for goods and services, while robust in Q2, have been ‘badly hit’ by China’s economic sanctions, according to Focus Economics.
“With no resolution to the China-Korea dispute in sight and important investment projects having been completed in H1, the economy is set to slow in the second half of the year,” an economic snapshot states.
As reported, Lotte Duty Free reported a loss of KRW29.7bn ($26.1bn) during Q2 this year – its first since the outbreak of SARS – with the decrease in sales predominantly caused by the collapse of organised travel tours.
According to South Korea’s Yonhap News Agency, the Chinese ambassador to South Korea Qiu Guohong last week issued calls for the ｃountries to resolve the tension over THAAD, which he was reported as saying was “the most difficult challenge” facing both parties in the past 25 years.
“Looking ahead, sticking to the basics, holding hands and going forward, I am sure that China-South Korea relations will be able to usher in a new and beautiful future after getting over the hurdles,” he said at a forum in Seoul.
“I think we can and must solve any problem and things hinge on what attitudes and methods can be taken.”
Article Source: https://www.trbusiness.com/regional-news/asia-pacific/china-arrivals-plunge-70-on-beijing-thaad-pressure/125458
Image Source: http://blogs.ft.com/beyond-brics/files/2011/07/korea-tourism.jpg
VOCABULARY WORDS:
1. Plunge (v.) ~ fall suddenly and uncontrollably
2. Impasse (n.) ~ a situation in which no progress is possible, especially because of disagreement a deadlock
3. Curb (n.) ~ a check or restraint on something
4. Stance (n.) ~ the attitude of a person or organization toward something a standpoint
5. Boycott (v.) ~ withdraw from commercial or social relations with (a ｃountry, organization, or person) as a punishment or protest
6. Resolve (v.) ~ settle or find a solution to (a problem, dispute, or contentious matter)
7. Usher (v.) ~ cause or mark the start of something new
8. Hurdle (n.) ~ an obstacle or difficulty
QUESTIONS FOR DISCUSSION:
1. How important is the contribution of tourism in Korean economy?
2. How did the Chinese government ban on travel to Korea affect the tourism industry of your ｃountry?
3. What do you think the government should do to resolve the issue with China?
