Korea has craved the United States to grant visa waivers for Korean tourists for years for reasons of convenience and status on the international stage.
According to a report by the Korea Tourism Organization, however, it will send tourism deficits with the U.S. skyrocketing.
``In 2007, our tourism deficit amounted to $10.1 billion, $4.6 billion of it from the United States,'' Joo Sang-yong, a KTO spokesman, said. ``The deficit is expected to balloon to $11 billion by 2011, three years after the U.S. visa waiver system is kicked in.
Joo said that this estimation was compiled before the current financial crisis hit, adding that outbound tourists would decrease until the economy is put back on track.
He said that between the U.S. and Korea, Korea is expected to make $1.6 billion, and the U.S. $11.6 billion, increasing the shortfall to $10 billion in 2007.
Last year, about 800,000 Koreans visited the United States and the number is expected to double to 1.6 million by 2011.
According to industry officials, some U.S. states have been eager to get its federal government to grant a visa waiver to Korean tourists, expecting their numbers to increase once such privileges are offered. The visa waiver has been a perennial source of grievance for the Korean government, which sees it as an elevation in its status.
Tourism agents say that the visa waiver will likely play a role in encouraging tourists to go to the United States, making Europe-bound tourists drop in number. Japan set on a similar path with its U.S.-bound tourists doubling in three years after they were granted visa waivers in 1987.
``We are planning to develop better tourism products to encourage Americans to come and visit,'' Joo said, citing efforts to reduce tourism deficits.