A new report shows that Chinese tourists have significant effects on the South Korean economy.
 
Shen Jia, a senior researcher at the LG Economic Research Institute, said in the report Wednesday that nearly six million Chinese tourists induced nominal production worth more than 27-point-six-trillion-won in South Korea last year, up three-point-two times from 2011.
 
The production inducement effect refers to the production generated either directly or indirectly in each industry by consumption, investments and exports.
 
Chinese tourists also created an added value of over 12-point-five trillion won or about zero-point-eight percent of South Korea’s gross domestic product(GDP) last year.
 
It was found that Chinese tourists created more than 194-thousand jobs in South Korea in 2015, a two-point-nine-fold increase from four years ago.
 
The number of Chinese tourists visiting South Korea grew eight-point-five times from 700-thousand in 2005 over the past ten years. In particular, the number surged by an average of 40-point-six percent annually during the last three years.