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Impact of Cultural Events on Local Economies: An Income Multiplier Analysis of Kyongju Exposition

  • Journal of Tourism Sciences
  • Abbr : JTS
  • 2002, 26(3), pp.53-72
  • Publisher : The Tourism Sciences Society Of Korea
  • Research Area : Social Science > Tourism

Kim Kyu-Ho 1

1경주대학교

Accredited

ABSTRACT

This paper investigates economic impacts of a cultural event, the 2000 Kyongju World Culture Exposition on the Kyongju economy. Along with a strategy maximizing the local spread effects, author analyzes tourism multipliers effect of the cultural festival with interviewing event visitors, residents and shop keepers who were involved with the Exposition. Based on Keynsian ad hoc multiplier model author shows that the mean value of tourism multipliers for various types of accommodation was 0.515 while the multiplier of those relying on budget accomodations such as inns and unfurnished private accomodations was as high as 0.584 and that of visitors accommodated in furnished resort condominiums was the lowest. Based on these results, author arguably maintains that a cultural event would be better held in or near the downtown area where accommodations, restaurants and other facilities are agglomerated so long as to maximize the economic effect to the economy while preventing leakage effect.

Citation status

* References for papers published after 2022 are currently being built.

This paper was written with support from the National Research Foundation of Korea.