Convention industry in South Korea: an economic impact analysis

Abstract

Objective of this study was to assess the economic impact of the convention industry in Korea. An input-output model was used to investigate the economic impact of the convention industry in terms of output, employment, income, value-added, and import. Considering multiplier effects, rate of exchange earnings, and substitution effect, the convention industry was compared with other major export products. According to results of this study, estimated economic impact of the convention industry was reported to be very significant to the Korean economy.