IDEAS home Printed from https://ideas.repec.org/a/sae/toueco/v21y2015i3p649-667.html
   My bibliography  Save this article

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

Author

Listed:
  • 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
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.5367/te.2013.0356
    Download Restriction: no
    File URL: https://libkey.io/10.5367/te.2013.0356?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Timo Tohmo, 2005. "Economic Impacts of Cultural Events on Local Economies: An Input—Output Analysis of the Kaustinen Folk Music Festival," Tourism Economics, , vol. 11(3), pages 431-451, September.
    2. Rob Southwick & John Bergstrom & Clint Wall, 2009. "The Economic Contributions of Human-Powered Outdoor Recreation to the US Economy," Tourism Economics, , vol. 15(4), pages 709-733, December.
    3. 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.
    4. Woo Gon Kim & Taegoo (Terry) Kim & Gabriel Gazzoli & Yumi Park & Sang Hyuck Kim & Si Sa Park, 2011. "Factors Affecting the Travel Expenditure of Visitors to Macau, China," Tourism Economics, , vol. 17(4), pages 857-883, August.
    5. Antonio Alcover & Marga Alemany & Marta Jacob & Margarita Payeras & Antonia García & Lorena Martínez-Ribes, 2011. "The Economic Impact of Yacht Charter Tourism on the Balearic Economy," Tourism Economics, , vol. 17(3), pages 625-638, June.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Yingying Qiu & Dan He & Zhe Xu & Xiaoliang Shi, 2023. "The Role of the Forest Recreation Industry in China’s National Economy: An Input–Output Analysis," Sustainability, MDPI, vol. 15(12), pages 1-15, June.
    2. Marcus Roller, 2023. "Estimation of direct net effects of events," Tourism Economics, , vol. 29(6), pages 1577-1597, September.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Elias Giannakis, 2014. "The Role Of Rural Tourism On The Development Of Rural Areas: The Case Of Cyprus," Romanian Journal of Regional Science, Romanian Regional Science Association, vol. 8(1), pages 38-53, JUNE.
    2. Loughrey, Jason & O’Donoghue, Cathal & Meredith, David & Murphy, Ger & Shanahan, Ultan & Miller, Corina, 2018. "The Local Impact of Cattle Farming," 166th Seminar, August 30-31, 2018, Galway, West of Ireland 276231, European Association of Agricultural Economists.
    3. Karol Jan Borowiecki & Concetta Castiglione, 2014. "Cultural Participation and Tourism Flows: An Empirical Investigation of Italian Provinces," Tourism Economics, , vol. 20(2), pages 241-262, April.
    4. Antonio García-Sánchez & Ester Fernández-Rubio & M. Dolores Collado, 2013. "Daily Expenses of Foreign Tourists, Length of Stay and Activities: Evidence from Spain," Tourism Economics, , vol. 19(3), pages 613-630, June.
    5. Marcus Roller, 2023. "Estimation of direct net effects of events," Tourism Economics, , vol. 29(6), pages 1577-1597, September.
    6. María J. Moreno & F. Javier Otamendi, 2017. "Fostering Nautical Tourism in the Balearic Islands," Sustainability, MDPI, vol. 9(12), pages 1-20, November.
    7. Aleksandra Lapko & Ewa Hacia & Lovorko Lucic, 2021. "Nautical Tourism in Croatia and the COVID-19 Pandemic," European Research Studies Journal, European Research Studies Journal, vol. 0(2B), pages 308-319.
    8. Marta Disegna & Linda Osti, 2013. "The Influence of Visitors’ Satisfaction on Expenditure Behaviour," BEMPS - Bozen Economics & Management Paper Series BEMPS14, Faculty of Economics and Management at the Free University of Bozen.
    9. Enrico Bertacchini & Chiara Dalle Nogare, 2021. "The economics of cultural tourism: New topics and methods," Tourism Economics, , vol. 27(6), pages 1177-1184, September.
    10. Ji, Chunli & Prentice, Catherine, 2021. "Linking transaction-specific satisfaction and customer loyalty – The case of casino resorts," Journal of Retailing and Consumer Services, Elsevier, vol. 58(C).
    11. Chris van Heerden & Melville Saayman, 2018. "Sustainability of a national arts festival," Tourism Economics, , vol. 24(5), pages 576-592, August.
    12. Attanasi, Giuseppe & Casoria, Fortuna & Centorrino, Samuele & Urso, Giulia, 2013. "Cultural investment, local development and instantaneous social capital: A case study of a gathering festival in the South of Italy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 47(C), pages 228-247.
    13. Nathan P. Kemper & Jennie S. Popp & Wayne P. Miller, 2008. "Regional Growth and Beaver Lake: A Study of Recreation Visitors," Tourism Economics, , vol. 14(2), pages 409-426, June.
    14. Ari-Veikko Anttiroiko, 2014. "Creative city policy in the context of urban asymmetry," Local Economy, London South Bank University, vol. 29(8), pages 854-867, December.
    15. Cecilia Chirieleison & Alessandro Montrone & Luca Scrucca, 2013. "Measuring the Impact of a Profit-Oriented Event on Tourism: The Eurochocolate Festival in Perugia, Italy," Tourism Economics, , vol. 19(6), pages 1411-1428, December.
    16. Emilio Gómez-Déniz & Jorge V Pérez-Rodríguez & José Boza-Chirino, 2020. "Modelling tourist expenditure at origin and destination," Tourism Economics, , vol. 26(3), pages 437-460, May.
    17. Bruno Bracalente & Cecilia Chirieleison & Massimo Cossignani & Luca Ferrucci & Marina Gigliotti & M. Giovanna Ranalli, 2011. "The Economic Impact of Cultural Events: The Umbria Jazz Music Festival," Tourism Economics, , vol. 17(6), pages 1235-1255, December.
    18. Angel Barajas & Santiago Lago-Peñas & Patricio Sanchez, 2014. "On the Regional Economic Effects of the Pope's Journeys: Evidence from the Visit to Santiago de Compostela in 2010," Tourism Economics, , vol. 20(2), pages 279-299, April.
    19. Sungsoo Kim, 2021. "Assessing economic and fiscal impacts of sports complex in a small US county," Tourism Economics, , vol. 27(3), pages 455-465, May.
    20. Marta Disegna & Linda Osti, 2016. "Tourists' Expenditure Behaviour: The Influence of Satisfaction and the Dependence of Spending Categories," Tourism Economics, , vol. 22(1), pages 5-30, February.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:toueco:v:21:y:2015:i:3:p:649-667. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.