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Estimation of the Economic Impacts of Yachting in Greece via the Tourism Satellite Account

Author

Listed:
  • Mihail N. Diakomihalis

    (Accounting Department, Epirus TEI, Laskaratou 6, 48100 Preveza, Greece)

  • Dimitris G. Lagos

    (Department of Business Administration, University of the Aegean, 6, Tsimara, Imittos, 172 36 Athens, Greece)

Abstract

This paper examines the impacts of yachting on the Greek economy. The contribution of yachting to major macroeconomic values and its impact on the Greek economy in 2004 are evaluated with the use of the tourism satellite account (TSA). The method has been applied by several countries to estimate the economic impacts of the traditionally designated tourism-related industries, as well as of all industries participating in the tourist economy, but not for the economic effects of special interest tourism (such as yachting). To date, there has been no application of this method in Greece either for the total tourism industry or for a specific tourism ‘sector’. The adaptation of TSA tables, maintaining harmonization with OECD directives and definitions which are approved and accepted internationally, is a precondition of the research. To achieve the research aims, both the theoretical and empirical aspects of yachting in Greece were investigated. Data from public sources have been included in the TSA tables. Since these tables require information with economic value, which is not found in the data recorded by many public services, primary research was conducted to collect this necessary information. The paper concludes by presenting the impacts of yachting on the major macroeconomic values of the Greek economy, such as tourist consumption, gross domestic product, balance of invisible resources, national income, employment, investments and public revenues (taxes).

Suggested Citation

  • Mihail N. Diakomihalis & Dimitris G. Lagos, 2008. "Estimation of the Economic Impacts of Yachting in Greece via the Tourism Satellite Account," Tourism Economics, , vol. 14(4), pages 871-887, December.
    • Handle: RePEc:sae:toueco:v:14:y:2008:i:4:p:871-887
    DOI: 10.5367/000000008786440139
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    Citations

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    Cited by:

    1. Yunhao Yao & Ruoquan Zheng & Merle Parmak, 2022. "Factors Influencing the Willingness to Pay in Yachting Tourism in the Context of COVID-19 Regular Prevention and Control: The Case of Dalian, China," Sustainability, MDPI, vol. 14(20), pages 1-17, October.
    2. Mihail N. Diakomihalis, 2012. "Maritime Tourism Tax Revenues in Greece: A New Framework for Collection," International Journal of Business and Economic Sciences Applied Research (IJBESAR), International Hellenic University (IHU), Kavala Campus, Greece (formerly Eastern Macedonia and Thrace Institute of Technology - EMaTTech), vol. 5(1), pages 109-127, April.
    3. Doris Chenguang Wu & Jingyan Liu & Haiyan Song & Anyu Liu & Hui Fu, 2019. "Developing a Web-based regional tourism satellite account (TSA) information system," Tourism Economics, , vol. 25(1), pages 67-84, February.
    4. Yunhao Yao & Ruoquan Zheng & Merle Parmak, 2021. "Examining the Constraints on Yachting Tourism Development in China: A Qualitative Study of Stakeholder Perceptions," Sustainability, MDPI, vol. 13(23), pages 1-18, November.
    5. Ani Trstenjak & Saša Žiković & Hoda Mansour, 2020. "Making Nautical Tourism Greener in the Mediterranean," Sustainability, MDPI, vol. 12(16), pages 1-15, August.
    6. Beatriz Plaza & Catalina Galvez-Galvez & Ana Gonzalez-Flores, 2011. "Research Note: Testing the Employment Impact of the Guggenheim Museum Bilbao via TSA," Tourism Economics, , vol. 17(1), pages 223-229, February.
    7. Mihail N Diakomihalis & Spyros Verginis, 2020. "Tax Burden on Professional Yachting in Greece and other European Countries," Business and Economic Research, Macrothink Institute, vol. 10(1), pages 77-100, March.
    8. Eli Marušić & Joško Šoda & Maja Krčum, 2020. "The Three-Parameter Classification Model of Seasonal Fluctuations in the Croatian Nautical Port System," Sustainability, MDPI, vol. 12(12), pages 1-17, June.
    9. Liu, Anyu & Wu, Doris Chenguang, 2019. "Tourism productivity and economic growth," Annals of Tourism Research, Elsevier, vol. 76(C), pages 253-265.
    10. Melville Saayman & Riaan Rossouw, 2011. "The Significance of Festivals to Regional Economies: Measuring the Economic Value of the Grahamstown National Arts Festival in South Africa," Tourism Economics, , vol. 17(3), pages 603-624, June.
    11. 'Phil' Klaus, Philipp & Tarquini-Poli, Annalisa & Ahmed Mostafa Alawad, Nawal, 2022. "Lifestyle of the rich and famous: Exploring the ultra-high net-worth individuals’ customer experience (UHCX)," Journal of Business Research, Elsevier, vol. 147(C), pages 49-58.

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