An estimation of the contribution of the international meeting industry to the Korean national economy based on input–output analysis

• Dae-Kwan Kim ^[1] ; Hak-Jun Kim ^[1] ; Sang-Min Lee ^[2] ; Yeongbae Choe ^[3] ; Soo-Yeop Song ^[1]
  1. [1] Kyung Hee University

     Kyung Hee University

     Corea del Sur

     
  2. [2] Hannam University

     Hannam University

     Corea del Sur

     
  3. [3] University of Florida

     University of Florida

     Estados Unidos

     

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• Localización: Tourism economics: the business and finance of tourism and recreation, ISSN 1354-8166, Vol. 21, Nº. Extra 3 (Special focus: Modelling Tourist Behaviour As A Micro- Macro Nexus), 2015, págs. 649-667
• Idioma: inglés
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• Resumen

  • 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.