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An Estimation of the Contribution of the International Meeting Industry to the Korean National Economy Based on Input—Output Analysis

Author

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  • Dae-Kwan Kim

    (MICE Statistics and Information Center, Department of Convention Management, College of Hotel and Tourism Management, Kyung Hee University, 1 Hoegi-dong, Dongdaemun-gu, Seoul 130-701, Korea)

  • Hak-Jun Kim

    (Department of Sport Management, Kyung Hee Cyber University, Seoul, Korea)

  • Sang-Min Lee

    (Department of Convention and Hotel Management, College of Economics and Business Administration, Hannam University, 70 Hannam-ro, Daedeok-gu, Daejeon 306-791, Korea)

  • Yeongbae Choe

    (National Laboratory for Tourism and eCommerce, Department of Tourism Recreation and Sport Management, University of Florida, Gainesville, FL, USA)

  • Soo-Yeop Song

    (MICE Statistics and Information Center, College of Hotel and Tourism Management, Kyung Hee University, Seoul, Korea)

Abstract

This paper presents the contribution of the international meeting industry to the Korean national economy. To obtain more accurate results, the study adopted three improvements over previous research: consideration of both supply and demand; direct expenditure surveys of participants and hosts; and re-categorization of related business sectors. The results of the input-output analysis showed that per capita expenditure for international and domestic participants was US$2,432.4 and US$459.3, respectively, and the per capita average budget was US$562.1. Based on these findings, the total contribution of the international meeting industry to the Korean economy exceeds US$1,343.2 million in output, US$236.6 million in personal income, US$589.3 million in value added, US$61.5 million in tax revenue and 16,336 full-time-equivalent jobs. These results provide two key implications, providing evidence of the importance of both the supply and demand sides and the relative importance of each sub-industry for increasing economic benefit.

Suggested Citation

  • Dae-Kwan Kim & Hak-Jun Kim & Sang-Min Lee & Yeongbae Choe & Soo-Yeop Song, 2015. "An Estimation of the Contribution of the International Meeting Industry to the Korean National Economy Based on Input—Output Analysis," Tourism Economics, , vol. 21(3), pages 649-667, June.
    • Handle: RePEc:sae:toueco:v:21:y:2015:i:3:p:649-667
    DOI: 10.5367/te.2013.0356
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    References listed on IDEAS

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    Cited by:

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    2. Marcus Roller, 2023. "Estimation of direct net effects of events," Tourism Economics, , vol. 29(6), pages 1577-1597, September.

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