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Tourism industry expects 8.9 % growth

Written: 2001-12-28 00:00:00Updated: 0000-00-00 00:00:00

Another rosy forecast ... this one for the tourism industry. The Korea Tourism Research Institute says its expects an eight point six percent growth. The projection is based on the results of a survey of two-hundred-nine tourist firms nationwide. The survey also finds hotels, travel agencies and recreational services will see an estimated growth ranging between eight and ten percent. As reasons for the boom, the state-run institute cited the co-hosting of the 2002 World Cup finals and implementation of a five-day workweek. General travel agencies engaged in outbound and inbound tours are looking to enjoy a record high growth of eleven and a half percent. Optimistic prospects are also reflected in the business survey index or B-S-I for the tourism sector, which stands at one hundred-65. A B-S-I reading of over one hundred indicates that companies with an optimistic outlook outnumber those with a pessimistic one.

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