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Summit Bolsters North Koreas Hopes for $7.8 Billion Resort

The development of the North Korean tourism industry is not a new phenomenon. Explore DPRK, a state tourism organization, even has an official Facebook page promoting North Korea as a tourist destination internationally. The hermit kingdom traditionally has primarily welcomed tour groups, mainly from China. These tourists have served as a valuable source of foreign currency, as the country is largely unable to access the global financial system due to sanctions. The new Wonsan-Kalma represents an increased focus on tourism as a means of economic development, or at least revenue for the state. According to promotional materials for potential investors from 2015, authorities are hoping to invest $7.8 billion by 2025 and attract one million foreign tourists. The opening for the new resort is set for April 15, 2019 , the 107th anniversary of the birth of North Korea’s first Supreme Leader Kim Il-sung. The apparent focus of the resort will be domestic tourists, according to the latest statements from state media. The North Korean government is hoping to attract $7.8 billion in investment by 2025 and attract one million foreign tourists However, in the past, the project has been promoted as catering to both international and domestic tourists. This would also fit into the tentative plans of the North Korean government to open up North Korea economically, at least to an extent.

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[Herald Interview] Kayak targets Koreas travel market with one-stop solution

“Simply by typing in the date and destination of your desired travel, our chatbot will automatically offer the best flight ticket as well as options for rental cars and hotel reservations,” said Amy Wei, Asia-Pacific Vice President for Kayak. Kayak’s Asia-Pacific Vice President Amy Wei. (Park Hyun-koo/The Korea Herald) According to Wei, Kayak more closely resembles a tech company. Established in 2004 in Stanford, the US, Kayak processes over 2 billion consumer queries for travel information a year. Over 60 million downloads have been made globally, as of 2017. It also operates more than 100 local sites across 60 countries and territories in 20 languages.  Over 50 percent of the some 900-strong workforce at Kayak is made up of engineers, Wei told The Korea Herald, adding that they are the ones who do the search for you to help you land the best deal. Kayak suggests the best timing to purchase flight tickets based on its metasearch data accumulated over years. On top of that, the service also curates travel content and offers options for the rest of the travel itinerary including accommodations and activities.  As of this year, Kayak has partnerships with some 750 airlines and has over 300,000 vacation packages registered on its service. It has information on 1.5 million hotels and accommodations as well as over 85 rental car partners across 80,000 locations worldwide. Wei described Koreans as “savvy” travelers who would find Kayak useful, as it allows users to set their budget range, destination, purpose of travel and even the weather situation.  “Whether it is (a) family vacation or honeymoon trips, you can simply select the purpose of travel.

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