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Economic impact of cruise industry using regional input--output analysis: a case study of Incheon

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  • Young-Tae Chang
  • Hyosoo Park
  • Shu-Min Liu
  • Younghoon Roh

Abstract

Asian countries are witnessing a newly emerging cruise industry. This study presents a methodology for estimating various aspects of the cruise industry’s economic impact using regional input--output (I-O) analysis. The methodology is applied to a study of the Port of Incheon (POI) that highlights the effects on both the regional and national economies as well as the interaction between the two regarding production induction, employment, and value added. The effects are analyzed under both the current situation and a scenario that includes development of shopping centers and amenities in Incheon in the future. The overall economic impact of the cruise sector on Incheon is relatively small compared to the impact on well-established cruise markets. This is because POI functions as a port of call for cruise lines, instead of a base port or home port, and earns cruise-related revenue mostly from the expenditures of passengers and crews. Moreover, cruise ship visits to POI mostly benefit the Seoul economy in terms of added value and job creation. The development scenario provides much greater economic benefits to Incheon and therefore justifies future development by POI and the city government.

Suggested Citation

  • Young-Tae Chang & Hyosoo Park & Shu-Min Liu & Younghoon Roh, 2016. "Economic impact of cruise industry using regional input--output analysis: a case study of Incheon," Maritime Policy & Management, Taylor & Francis Journals, vol. 43(1), pages 1-18, January.
    • Handle: RePEc:taf:marpmg:v:43:y:2016:i:1:p:1-18
    DOI: 10.1080/03088839.2015.1086837
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    Cited by:

    1. Jun, Wang Ki & Lee, Min-Kyu & Choi, Jae Young, 2018. "Impact of the smart port industry on the Korean national economy using input-output analysis," Transportation Research Part A: Policy and Practice, Elsevier, vol. 118(C), pages 480-493.
    2. Oddne Skrede & Sigbjorn Landazuri Tveteraas, 2019. "Cruise spillovers to hotels and restaurants," Tourism Economics, , vol. 25(8), pages 1286-1301, December.
    3. Andrés Artal-Tur & José Miguel Navarro-Azorín & José María Ramos-Parreño, 2020. "Measuring the economic contribution of tourism to destinations within an input-output framework: some methodological issues," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 19(3), pages 243-265, September.
    4. Erhan Aslanoğlu & Arda Balakan, 2016. "An analysis of cruise tourism on Turkish economy; a case study for Istanbul and Barcelona ports," Yildiz Social Science Review, Yildiz Technical University, vol. 2(2), pages 1-28.
    5. Xumao Li & Chengjin Wang & César Ducruet, 2020. "Globalization and Regionalization: Empirical Evidence from Itinerary Structure and Port Organization of World Cruise of Cunard," Sustainability, MDPI, vol. 12(19), pages 1-17, September.
    6. Chang, Young-Tae & Lee, Suhyung & Park, Hyosoo (Kevin), 2017. "Efficiency analysis of major cruise lines," Tourism Management, Elsevier, vol. 58(C), pages 78-88.
    7. Aparco, Elvis & Chang, Víctor, 2018. "Medición del impacto económico de las terminales portuarias del Callao: Un análisis mediante la Matriz Insumo - Producto/Measuring the Economic Impact in Port Terminals of Callao: An Analysis using In," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 36, pages 743-764, Septiembr.
    8. F. Antolini & S. Cesarini & G. Garau, 2023. "The economic impact of the tourism sector on the overall Italian economy: An Input-Output Approach," Working Paper CRENoS 202311, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.

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