Jeju economy ‘sluggish’
Retail, construction, and tourism sectors all struggling

Analysts say the state of the Jeju economy is...sluggish.

According to data released by the Jeju branch of the Bank of Korea, sales at large retailers and duty-free shops were down for the fourth consecutive month in July.

The construction industry is also struggling. The value of new construction contracts was down 88 percent during the same period compared to last year, while the area on which development had begun fell 27 percent.

Turning to the tourism industry - domestic arrivals were up 11 percent in August, but that wasn’t enough to offset the losses from a 90 percent plummet in international arrivals ? total arrivals were down 15 percent compared to August 2016.

건설·관광 부진하고 소비 둔화

제주경제가 전반적으로 부진을 면치 못하고 있습니다.

한국은행 제주본부가 발표한 제주지역 실물경제 동향에 따르면 7월 중 대형소매점 판매액은 대형마트와 면세점의 매출 부진으로 4개월 연속 하락세를 보였습니다.

건설수주액과 건축착공면적도 지난해 같은 기간보다 각각 88와, 27% 감소했습니다.

성수기였던 지난달 관광객 수 역시 내국인은 지난해보다 11% 늘었지만 중국인이 90% 줄면서 전체적으로 15% 감소세를 보였습니다.