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http://dx.doi.org/10.5394/KINPR.2011.35.5.415

Analyses of Economic Impacts of an Marine Leisure Event on the Host City  

Cho, Woo-Jeong (Dept. of Ocean Physical Education, Korea Maritime University)
Kang, Shin-Beum (Dept. of Ocean Physical Education, Korea Maritime University)
Publication Information
Journal of Navigation and Port Research / v.35, no.5, 2011 , pp. 415-421 More about this Journal
Abstract
The purposes of this study were to identify the economic impacts of hosting a marine leisure event and thus provide fundamental information that helps maximize the economic value of the event. In order to accomplish such purposes, this study employed both an economic impact analysis(EIA) using regional input output model and a benefit and cost ratio analysis(BCR). In specific, this study utilized a survey method with a total of 300 event visitors and 70 foreign players and thus collected expenditure data from 110 valid out of town visitors and 58 foreign players. In addition, investment expenditure data were collected from the host city official. Accordingly, EIA and BCR indicated following findings. First, the total direct impact from both visitors and players was 387 million Won and this direct impact resulted in output multiplier effect(OME) of 591 million Won, value added multiplier effect(VAME) of 306 million Won and income multiplier effect(IME) of 252 million Won. Second, the host city's investment expenditure created OME, VAME and IME of 825, 432 and 366 million Won, respectively. In conclusion, these findings suggest that in order to effectively boost potential economic benefits, more marketing efforts development policies should be implemented for increasing the number of out of town visitors and the amount of spendings from them.
Keywords
Marine Leisure Event; Regional Input Output Model; Economic Impact; Multipliers;
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