Retail sales of experiential luxury overall are expected to increase at a current value CAGR of 6% (2023 constant value CAGR of 4%) over 2023-2028, to total KRW869 million, exceeding the sales recorded prior to the pandemic. This rise looks likely due to a desire to travel to South Korea again post-COVID-19.
Luxury hotels is expected to see retail sales rise at a CAGR of 6% (4% 2023 constant value CAGR) over 2023-2028, making it the most dynamic category within experiential luxury. Sales in luxury hotels are set to increase to amount to KRW869 million, as a result of consumers’ desire to partake in luxury experiences or enjoy a luxury lifestyle, which bodes well for the subcategory.
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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.
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Experiential Luxury
This is an aggregation of Luxury Hotels and Luxury Foodservice.
See All of Our DefinitionsThis report originates from Passport, our Experiential Luxury research and analysis database.
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