While you were (not) watching North Korea: Business is booming (updated)

Recently, the DPRK was forced to set a limit on foreign tourists coming to the country. The number has jumped to about 100,000 a year and the country’s facilities are struggling to cope. When I first visited in 2015, there were perhaps 20,000 Chinese tourists a year and 5,000 non-Chinese tourists. Now the total number has jumped to 100,000. Our visit in October of 2018 verified this rise, for more and more hotels were catering for travellers.

Alongside the tourists are an increasing number of foriegn investors, most of them Chinese. Business is booming north of the DMZ. As a recent article in the Global Times indicates, the DPRK is actively seeking further investment. The article is careful to point out that the lawyers’ group touring China is anticipating the lifting of sanctions, but the reality is that some investment is already taking place.

For more information, you can read (here) ‘Chinese entrepreneurs eye new opportunities in N. Korea economy’.

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