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Travel Manager Sees Korea as Emerging Market

An American travel accommodation manager expressed his bright outlook for the Korean market as Koreans are expected to visit the U.S. more freely in the near future. Dan Besser, managing director of the strategic planning and business development Hilton Grand Vacations Club's Hawaii-Asia Region, said, ``With the Korean-U.S. Visa Waiver Program (VWP) likely to take effect soon, many market researchers including Hilton expect that it would allow more Korean people to come to various destinations including Hawaii and Las Vegas, where hotel companies provide their accommodation and customer-oriented services.''

He added that a string of Korean government's efforts to deregulate policies regarding investment in oversea real estate would help encourage Korean people to seek opportunity to use their money to buy real estate in other countries especially the U.S. Dan, who arrived here on seven-day schedule, will attend several meetings with local researchers and real estate developers to assess the potential of the Korean market and needs of Korean customers.

Noting that the number of Korean travelers visiting Hawaii has sluggishly increased in the past, the Hilton's managing director said, ``The number of Koreans who traveled Hawaii in 2005 was around 50,000, up from 35,000 in 2004. But, we see the number surging when the VWP goes into effect next year.''

Household Spending Overseas Hits Record High

Households are spending a record amount of money in foreign countries while tightening their belts at home, delaying the much hoped for recovery in domestic consumption. Families spent 4.75 trillion won ($5.16 billion) in the three months to September overseas, beating the previous record of 4.63 trillion won in the first quarter of the year, the Bank of Korea said in a report Tuesday.

``People spent more abroad during the summer vacation and their spending is unlikely to drop given increasing overseas travels,'' a BOK official said. The percentage as a total consumption expenditure is also an all-time high. Households' overseas spending once fell to as low as 4.04 percent of their total consumption expenditure in the fourth quarter of 2006 but has steadily risen since then, the bank said.

Question
1. What do you think the increasing number of overseas travelers?
2. Do you have any plans for going abroad? Then when, where and why?
3. What plans do you have in this winter vacation?
4. On the other hand, What things are needed to draw foreigners to our country?

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