South Korean and Philippines government officials signed a memorandum last week, which will increase the weekly air traffic between Manila Ninoy Aquino International and Seoul Incheon International from 20,000 to 30,000 seats each way. Both governments aim to boost passenger traffic between the two capital cities, as they are the most populated metro cities in the world.
The Philippines’ capital city Manila population is around 13 million, while South Korea’s Seoul metropolitan population is close to 25.5 million. Both capital cities have vibrant casino markets. Incheon International Airport’s casinos are exclusively for foreign tourists, while Manila’s Entertainment City casinos like Okada, City of Dreams, Solange, and Newport Resorts World are open to both locals and tourists. This means both locals and tourists can visit these casinos and enjoy their favourite games like poker.
Both the Philippines and South Korean governments have previously imposed a weekly seat count of 20k for their capital cities’ airports since 2017. But the rule has now changed because of excess demand.
Philippines Government Capitalizing Korean Tourists
The Philippines gaming industry plays a big role in the country’s economic growth. It has been flourishing post-pandemic, fueled by pent-up demand that accumulated during the pandemic and China’s Crackdown on junket groups that previously filled Macau’s VIP high roller rooms.
These junket operators have now shifted their focus from China’s casinos to the Philippines’ casinos. Additionally, many travel organizers are targeting other Southeast Asian countries where gambling is either banned or strictly regulated, and South Korea is one of those countries.
Because of this, the Philippines has become a hub for South Korean gamblers. As per the Philippine Department of Tourism, South Korea has been one of the largest sources of foreign visitors to the country. From January through June, the Philippines welcomed nearly 793,000 Korean tourists, accounting for 28% of the country’s total foreign visitors.
Industry experts suggest that many of these Korean visitors choose to stay and play in Entertainment City, as its resorts provide a superior experience compared to Kangwon Land, the only remote casino resort in South Korea where Koreans are legally allowed to gamble.
Government officials of the Philippines have said that tourism from South Korea is boosting the economy, as well as casinos. The country’s expected gross gaming revenue (GGR) for this fiscal year is $6.1 billion, reflecting a notable rise from 2021’s $5.1 billion, according to analysts.
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