The leisure employment sector in South Korea exhibited significant fluctuations from 2013 to 2023. The sector experienced steady growth from 2013 to 2017, with notable increases in 2016 (33.18%) and 2017 (19.73%). However, there were declines in 2018 and 2019, followed by a substantial drop in 2020 (-20.28%) likely due to the COVID-19 pandemic. The sector rebounded in 2021 and 2022 with growth rates of 19.07% and 12.12% respectively, culminating in a value of 64.79 thousand employees in 2023 with a year-on-year growth of 9.15%. The last five years show an average yearly growth (CAGR) of 2.71%.
Looking ahead, the forecasted data from 2024 to 2028 suggests continued growth in the leisure employment sector, with an expected five-year CAGR of 3.13% and a total growth rate of 16.67% by 2028.
Future Trends to Watch For:
- Technological advancements in the leisure industry, including AI and VR, potentially influencing employment dynamics.
- Socio-economic impacts of demographic changes, particularly aging populations and shifts in consumer behavior.
- Environmental sustainability and the drive towards eco-friendly leisure options affecting job creation and market structure.
