South Korea’s busiest gateway Incheon International Airport is planning a $3 billion resort resembling Singapore’s Marina Bay Sands in an attempt to lure more tourists.

The proposed landmark that will be built near the airport will include a hotel and convention centre, medical centres, malls and entertainment facilities as the nations compete for holidaymakers from China, the world’s fastest-growing air-travel market.

Incheon Airport has forecast an increase in passenger numbers 5.7 per cent this year to 37 million.  The resort is looking to add luxury-goods outlets to lure more Chinese and Japanese travellers who are a big spender on duty-free items, accounting for 45 per cent of sales last year.

Chief executive officer of the state-owned airport company Lee Chae Wook said yesterday in an interview in Incheon that a deal will probably be signed by the end of June, with construction starting next year.