Estimating the Economic Impacts of Korean Wave(Hallyu) TourismUsing an Input-Output Model

An， So-Hyun; Lee Choong-Ki

doi:10.17086/JTS.2015.39.5.57.70

The purpose of this study is to estimate the economic impacts of Korean Wave(Hallyu) tourism using an Input-Output(I-O) model. Tourism multipliers were derived in terms of output, income, value-added, employment, indirect tax, and import. An on-site survey was conducted for foreign tourists from December 2014 to January 2015 at Incheon airport, Gimpo airport, and airport railway in order to estimate Hallyu tourists and their expenditures. The survey results show that Hallyu tourists consisted of 46.3% of foreign tourists and per capita expenditure was estimated to be US$ 2,230. Total expenditures of Hallyu tourists were estimated to be approximately US$ 14,669 million when considering total Hallyu tourists and per capita expenditure. The results of I-O model indicate that total Hallyu tourist receipts generated 25,682 million dollars of output impact, 4,737 million dollars of income impact, 185,228 equivalent full time jobs, and 11,358 million dollars of value-added impact, 178 million dollars of tax impact, and 3,022 million dollars of import impact.

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