South Korea

Tourism

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In 2012, 11.1 million foreign tourists visited South Korea, making it the 20th most visited country in the world, up from 8.5 million in 2010. Due to Hallyu, South Korea welcomed more than 12 million visitors in 2013 with 6 million tourists coming from China alone. With rising tourist prospects, especially from foreign countries outside of Asia, the South Korean government has set a target of attracting 20 million foreign tourists a year by 2017. Hallyu's positive effects of the nation's entertainment industry are not limited to within its culture industry, according to a study by the Hyundai Research Institute. The Hyundai Research Institute reported that the Korean Wave has a direct impact in encouraging direct foreign investment back into the country through demand for products, and the tourism industry. Among Asian countries, China was the most receptive, investing 1.4 billion in South Korea, with much of the investment within its service sector, a sevenfold increase from 2001. According to economist, Han Sang-Wan, shown an analysis that a 1 percent increase of exports of Korean cultural content pushes consumer goods exports up 0.083 percent while a 1 percent increase in Korean pop content exports to a country produces a 0.019 percent bump in tourism.