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European Tourism Giant Considers Busan for a New Business Opportunity

by Fraeraine / Nov 04, 2016 06:47 AM EDT
A European tourism giant considers Busan for a new business opportunity.

Pierre & Vacances, a European tourism giant considers Busan for a new business opportunity. According to a reliable source, the said French company is currently eyeing Korea's southern coastal city of Busan for a property development project. The said company was all praises for Busan, said the source, during a recent roundtable meeting with the city's government officials. Busan holds a lot of potential in terms of tourism, said the company. The company even asked the officials to help them find financial investors for the upcoming project.

Although this European tourism giant is considering Busan for an upcoming project, there are no specific details on what Pierre & Vacances is planning on developing in the city yet. And although it wasn't confirmed, another source said that it was Isabelle de Wavrechin, chairwoman and CEO of Pierre & Vacances' Worldwide Invest Management, who attended the roundtable meeting on behalf of the company.

As Korea's second-largest city, Busan holds a lot of potential when it comes to tourism. Aside from being a favorite destination among Japanese tourists, the city has been attracting a lot of American and Taiwanese tourists recently, as well. The city, in fact, has seen a sharp appreciation of its property prices in recent years, spearheaded by prohibitively expensive high-rise apartments which are mostly reconstructed. No wonder why this European tourism giant considers Busan as a perfect location for their next project.

Pierre & Vacances is known for providing holiday and entertainment villages, leisure activity residences and upscale hotels under such brands as Pierre & Vacances, Maeva, Center Parcs, Sunparks and Adagio. The group is known to operate a tourism network of more than 46,000 houses and apartments at 280 European sites. It basically deals with two complementary businesses, property development, and tourism. As this European tourism giant considers Busan for their next project, it will surely boost the city's tourism economy if the plan pushes through. 

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