Jeju’s local economy has been greatly bolstered by its booming tourism industry, which accounts for 70 percent of the island’s revenue. This is attributable to the increase in the number of tourists despite difficult economic circumstances in Korea. The number of domestic tourists who visited Jeju was an average of 4.6 million per year before 2005, but soared to 5.89 million last year. Jeju netted 2.37 trillion won ($2.04 billion) in tourism revenue in 2008, representing an increase of more than 35 percent from the corresponding time in 2007. Some travel experts, however, had warned that tourism in Jeju would be sluggish this year as more Koreans would prefer to travel abroad as the economy improves. Yet the number of inbound tourists to Jeju have continuously rose, thanks in part to the increase in budget airline flights to Jeju.
ⓒ Jeju Weekly 2009 (http://www.jejuweekly.com)
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