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http://dx.doi.org/10.5762/KAIS.2019.20.9.323

A Study on the Regional Economic Multiplier Impacts of Jeju International Wind Ensemble Festival  

Ko, Hye-young (Department of administration, Jeju National University)
Yang, Jeong-Cheol (Department of administration, Jeju National University)
Lim, Jung-Hyun (Department of administration, Jeju National University)
Hwang, Kyung-Soo (Department of administration, Jeju National University)
Publication Information
Journal of the Korea Academia-Industrial cooperation Society / v.20, no.9, 2019 , pp. 323-332 More about this Journal
Abstract
The purpose of this study is to measure the effects on the regional economy from the Jeju International Wind Ensemble Festival. In order to examine the economic ripple effects of the festival, we examine its impact on the local economy using two regional (Jeju-National) industry-related models based on the 2013 Jeju Region Input and Output Table. We also compare how the Jeju International Wind Ensemble Festival is growing and affecting the regional economy through a comparison between 2017 and 2018. Comparing the results of a production-inducing and value added-effect analysis of the induced industries from investment expenditures for the Jeju International Wind Ensemble Festival, the production-inducing effects increased by 2.1 times-from 9.05 billion won in 2017 to 18.7 billion won in 2018. The value-added effect increased by 2.2 times, from nearly 4.3 billion won in 2017 to nearly 9.2 billion won in 2018. The analysis shows that the Jeju International Wind Ensemble Festival contributes greatly to an income increase for local residents. In order to enhance the effects of the Jeju International Wind Ensemble Festival, it is necessary to use policies that link culture and tourism in Jeju.
Keywords
Jeju International Wind Ensemble Festival; the Regional Economic Multiplier Impacts; Industry linkage Model; Citizen Participation; Local;
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Times Cited By KSCI : 1  (Citation Analysis)
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