Abstract
The tourism industry has greatly contributed to the strengthening of the trade balance position of Korea as much as the export industry itself ever since 1975 when the former was designated as one of Korea's main strategic industries. However, the tourism industry, which registered the highest surplus of US 2,000 million in 1988, the year Korea hosted the Olympic Games, has declined since 1989 when the overseas travel of Koreans was completely liberalized. In 1992, the tourism industry showed a deficit of US$ 360 million. It is anticipated that the deficit in the tourism industry will further increase. To cope with the threatened decline in the revenue of the tourism industry, the government has been contemplating special measures to boost Korea's share in the world tourism market of US$ 230 billion per year.
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