Posts Tagged ‘tourism’

Recession Hits Home for Local Korean Tourism Agencies

Recession Hits Home for Local Korean Tourism Agencies

BY JONATHAN SHIA

Until the economic crisis hit last autumn, 2009 was looking to be a banner year for Dongbu Tour, New York City’s largest Korean tourism firm. Korean tourism had nearly tripled between 2002 and 2008, according to NYC & Company, the city’s official tourism organization, and with Korea’s promised entrance to the United States’ Visa Waiver Program, all signs pointed to continued growth. That is, before the ramifications of the recession became clear.