The output of sports activities, amusement, and recreation activities in South Korea has shown steady growth from 2015 to 2023, with a 2023 value standing at 23.925 trillion South Korean Wons. Between 2015 and 2019, growth was robust with notable year-on-year increases, particularly in 2018 (9.43%). Despite a sluggish rise during the pandemic (2020 saw just a 0.56% increase), the trend resumed a stable path, reaching 1.34% year-on-year growth in 2023. Over a five-year average, the CAGR was 1.18% for this period, indicating a slow yet consistent upward trend.
Future projections suggest a continued growth path at a forecasted 0.95% CAGR over the next five years, culminating in a total output of 25.413 trillion by 2028, reflecting a forecasted 4.86% growth from 2024. It is important to monitor how emerging trends such as digital transformation in amusement and recreation, shifts in consumer preferences, and the impact of economic policies might influence this sector's trajectory. Additionally, recovery patterns post-pandemic and innovations in sports tourism and recreational technology will be crucial in shaping future developments.
