Fall foliage contribute to sharp rise in restaurant sales

[Image source: Pixabay]

When last year’s fall foliage season was at its peak, tourist spending in major mountainous regions surged by around 37 percent, compared to the period just before the peak, according to recent data compilation. Notably, stores around popular fall foliage destinations such as Naejangsan and Juwangsan witnessed a significant increase in revenue. With this year’s fall foliage season just around the corner, it is expected that revenue for commercial areas in the vicinity of these mountainous will continue to rise.

On Thursday, KB Card released its analysis of credit and debit card payments made by its members in 16 popular mountainous areas across the country within a 2-kilometer radius from the mountain’s entrance. The results showed that during the week the fall foliage season peaked last year, total revenue in the community stores increased by 37 percent compared to the week “two weeks before the season’s peak.”

In terms of business categories, restaurants experienced a 42 percent increase, cafes saw a 27 percent rise, and convenience stores, including supermarkets, posted a 19 percent growth in revenue. The surge in sales in sectors serving food and beverages can be attributed to hikers stopping for drinks or meals before and after their treks during the fall foliage season.

Naejangsan areas recorded the highest revenue growth rate of 235 percent during this season, followed by Juwangsan (up 116 percent), Odaesan (66 percent), and Wolaksan (50 percent). Mountains in Gangwon Province also had notable increases, with Seoraksan and Chilaksan at 47 percent and Jirisan at 45 percent respectively.

Over the past year, Naejangsan (59 percent) and Juwangsan (52 percent) areas nabbed the highest share of fall season revenues. When last year’s fall foilage season peaked in November, Naejangsan accounted for 32 percent of the total revenue, making it the most significant contributor. Juwangsan had the highest share in October, at 26 percent.

The number of external visitors, or non-residents of these mountainous regions, also increased substantially. Mountains with the highest share of revenue from external visitors during the season included Seoraksan at 92 percent, Odaesan at 90 percent, Gyeryongsan at 89 percent, and Juwangsan at 84 percent.