The “BTS Effect” contributing over $3.5Bn of economic value to the Korean Economy

With the group announcing a break to enjoy their 20’s now is a good time to reflect on the contributions of the world’s most popular boy-band.

BTS generated over $3.5Bn of economic value for the Korean economy in 2017 and is the reason 796,000 foreigners visit Korea annually according to the Hyundai Research Institute.

The group is also responsible for contributing $1.1Bn worth of consumer goods exports for the Korean economy including clothing, cosmetics and food products, making up approx 1.7% of total consumer goods exports.

https://www.linkedin.com/posts/asia-advisory_the-bts-effect-on-south-koreas-economy-activity-6567184048249245696-5ya_

#Hallyu #Korea #BTS #KWave

If the media keep calling North Korea names, it will only prolong the conflict.

“Hermit Kingdom” “a military threat” and “Rocket-Man” are all terms Western Media have headlined as labels for North Korea and it’s leader Kim Jong-Un. However, if we keep labelling the country with these metaphors it will be difficult to resolve the conflict. Research from University of Technology Sydney Associate Professor Bronwen Dalton found that North Korea was rarely referred to as a country or its rulers as a government. A failure to understand North Korea’s interests has serious implications for how Australia (and its allies) respond to North Korea. The Australian media would be substantially enlivened by more stories illustrating individual and community life. This would give North Koreans a human face and offer the Australian public a less singular, monotonous depiction of a country so often written about with such a limited lexicon. Australian Department of Foreign Affairs and TradeThe Australian Australian Broadcasting Corporation (ABC) The Sydney Morning #Herald#Korea#Media#diplomacy#AusPol

https://www.linkedin.com/feed/update/urn:li:activity:6507014886139232256

Visitors to Japan hit the record high in 2018 but forgo shopping sprees

Tourism competition is heating up across Asia and it’s not just because of geopolitics. Japan had a record high of 31.19 million visitors in 2018 despite natural disasters and airport shutdowns. However, the level of annual growth is slowing, from 17.8% to 8.7% in 2018. Additionally, Chinese shoppers are becoming more frugal with their spending and have been overtaken by Australia as Japan’s top-spending visitors. Companies are now trying to attract foreigners through experience-based services vs buying luxury items. We are already seeing this trend emerging in Australia.

LinkedIn: Visitors to Japan hit the record high in 2018 but forgo shopping sprees

The World’s Largest Migration

Chinese / Lunar New Year is the World’s Largest Annual Human Migration!!

Once every 12 months, the world’s largest human migration happens in China. Over the 40-day travel period of Chinese New Year, three billion trips are taken, as families reunite and celebrate. Now, the most strenuous of these trips are taken by the country’s 290 million migrant workers, for many of whom this is the one chance a year to go home and see parents and their left-behind children.

#China #Asia #Migration #LunarNewYear #NYE # #tourism #travel #wanderlust

Australia China Business Council

Australia-China Youth Association

Australia-Korea Business Council

Australian Tourism Export Council