Plans by the Incheon Metropolitan City government are underway to expand its tourism and cultural industry, as it reported on calvinayre.
The plans include the expansion of its cluster of casinos as part of a Yeongjong-do integrated Resort project.
This plan was documented as part of a new proposal meant to position the region as a leading cultural and tourist destination to the Northeast of Asia. Yoengjong Island, which is located along the west coast of the city, has an excellent reputation because of the Incheon International Airport.
This makes this region an ideal area for the current expansion plan, including the construction of a five-star, theme parks, convention centres, spas and shops. The area is currently a hotbed for gambling and gaming activities. The island also boasts of a paradise city complex in an area where casinos and resorts like the Mohegan Gaming and the Caesars Resort complex will soon be part of the paradise facility.
The paradise city began operations in 2017as the only foreigners’ only complex within South Korea. The resort features a five-star hotel with about 711 rooms, a convention hall with a capacity of 1600, as well as a casino complex.
The latest casino complex will have 700 more rooms, a live entertainment performance hall, a convention facility, a spa, a foreigners-only casino and a spa. The Mohegan Gaming and Entertainment Complex is expected to host a luxury hotel with a capacity of 1250 guests and a casino. It will also have outdoor and indoor theme parks as well as a performing facility with a seating capacity of 15000 persons.
The region is currently part of Incheon’s free economic zone authority, and in the future, it is expected that the entire resort is able to create more than 20000 jobs for the locals. This is also likely to generate for the local government more than $1.6 billion each year. The government hopes that this new investment will help to invigorate the economy of the region.
Yeongjong Island is found off the Incheon coast and makes up part of the final phase of a four-phase development that began in the 90s. The last stage of this project will be completed sometime next year and is expected to include a considerable addition to the local airport.
The investors intend to expand the local airport’s passenger handling capacity, so the last phase will also include an additional two passenger terminals that will see more than 100 million travelers pass through the airport every year.
These numbers have driven the development of the complexes, the hotels, and the casinos in Incheon Island. Assuming the investors have their numbers right and a winning marketing strategy, the Island is looking at droves of customers throughout the year. That translates to plenty of jobs, a lot of revenue for investors as well as a lucrative tax stream for the government. The region is well on its way to claiming the title of the best resort destination in Northeast Asia.