World Cup host adds up the takings

Korea's success has given the country a huge boost

By Caroline Gluck in Seoul

The predicted boom in visitors to South Korea during the football World Cup has not been realised.

Tourist arrivals to South Korea were down by 5% last month despite predictions that the World Cup would attract record numbers of visitors to the country.

Numbers fell mainly because Japanese tourists stayed away.

The fall has dashed the hopes of those who were expecting an immediate World Cup business boom.

Closed wallets

Street vendors did a roaring trade on the days South Korea played their World Cup matches - red t-shirts, flags and scarves sold out fast.

South Korea beat Italy 2-1 with a golden goal

Plenty of foreign tourists have visited a traditional shopping street in Seoul which has also been hosting cultural performances.

But while many were looking few, it seems, were buying.

The high spending Japanese tourists who normally make up the largest group of visitors to South Korea have been staying away and watching the football matches at home.

Shopkeepers who had hoped for a cash bonanza have been left disappointed.

One trader said his business was down by 30% because of the fall in the number of Japanese tourists.

It wasn't supposed to be like this.

Promoting the Korean brand

Forecasters predicted that the football tournament would have a huge economic impact.

Joo-hyun Kim, vice-president at Hyundai research institute, said forecasts might have been out in the short-term but that would change in the future because South Korea had come under the world spotlight.

"What we expect is more long-term economic effect... through upgrading our national and corporate images in the world," he said.

"In the long-term we can estimate almost $10bn (£6.5bn) through this national brand image increase," he added.

A new Korea

Dho Young-Shim, Chairperson of Visit Korea Year 2001/2, is disappointed but not discouraged by the visitor numbers.

South Korea has built 10 news stadiums for the World Cup

She said that television coverage had increased people's awareness of the country and that hosting the World Cup had helped portray a new Korea.

"This is part of our investment for future tourism business," she said.

"I believe 60 billion people are watching Korea, they are going to see Korea one way or another through a television, and then when they plan their next trip they will say why don't we stop by in Korea?" she added.

Pride and energy

South Korea has spent more that $2bn for this World Cup mainly building ten state-of-the-art stadiums.

Team Korea's World Cup success - getting through to the semi-finals - has given the country a huge boost, instilling a new sense of pride and energy.

It could also be a chance to lift the economy, further strengthening the country after the Asian economic crisis just a few years ago.