PROSPECTS AND OPPORTUNITIES
Growing demand for luxury experiences as travel continues to expand
Experiential luxury in South Korea is anticipated to demonstrate steady growth in value sales between 2025 and 2030, driven by several key market dynamics. Retail sales are projected to increase at a current value compound annual growth rate (CAGR) of 22% (a constant value CAGR of 20% in 2025 terms), reaching KRW8.
Luxury hotels to drive growth through wellness services and exclusivity
The outlook for new hotel and hospitality openings in South Korea throughout the forecast period is optimistic, driven by substantial investment in experiential luxury. This influx of investment is poised to consolidate South Korea's position as a premier destination for affluent travellers and HNWIs, both domestic and international.
An increasing number of luxury hotels likely to adopt eco-friendly practices and sustainable initiatives
Between 2025 and 2030, sustainable and responsible travel options are expected to become increasingly integral to the luxury hotels in South Korea. In response to the growing consumer demand for sustainable experiences, experiential luxury companies are anticipated to increase their investments in eco-conscious travel initiatives.
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Overview:
Understand the latest market trends and future growth opportunities for the Experiential Luxury industry in South Korea with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Experiential Luxury industry in South Korea, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Experiential Luxury in South Korea report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Experiential Luxury in South Korea?
- Which are the leading brands in Experiential Luxury in South Korea?
- How are products distributed in Experiential Luxury in South Korea?
- How important is tourism in evaluating demand for Experiential Luxury in South Korea?
- How is the rise of e-commerce changing the retail and competitive landscape?
- How has COVID-19 and global recession impacted demand for luxury goods? What are the opportunities amidst the adversity?
- Where is future growth expected to be most dynamic?
Experiential Luxury in South Korea - Category analysis
KEY DATA FINDINGS
Rise in travel drives growth in experiential luxury, particularly luxury hotels
Players in luxury hotels lead and drive growth through expansion and premium amenities
Growing demand for bespoke luxury experiences contributes to growth
Growing demand for luxury experiences as travel continues to expand
Luxury hotels to drive growth through wellness services and exclusivity
An increasing number of luxury hotels likely to adopt eco-friendly practices and sustainable initiatives
Luxury Goods in South Korea - Industry Overview
Luxury goods in 2025: The big picture
2025 key trends
Competitive landscape
Retail developments
What next for luxury goods?
COUNTRY REPORTS DISCLAIMER
The following categories and subcategories are included:
Experiential Luxury
- Luxury Foodservice
- Luxury Hotels
Experiential Luxury
This is an aggregation of Luxury Hotels and Luxury Foodservice.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Experiential Luxury research and analysis database.
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