Economic Impact and Revenue Analysis of the Olympic and Winter Olympic Games

다국어 초록 (Multilingual Abstract)

Our research sheds light on two aspects of the Olympics. First, our research looks at the direct and indirect economic effects of the upcoming Pyeongchang Winter Olympic Games on the South Korean economy using input-output analysis through inter-industry relation tables. The input-output table used in our study is a reconstruction of a larger table using only industries that are impacted most by the hosting of the Olympic Games. As a result, we found a 2 million dollar increase in production and 0.56 million dollars in supply shortage resulting from hosting the Pyeongchang Olympic Games. Particularly, it is shown that the Olympic industries will grow the Electronics & Electrical Equipment and Real Estate & Business Services industries more than others based on their expected production inducement and supply shortages. The second half of our research uses regression and exploratory analysis of past Olympic and Winter Olympic direct revenue sources to determine characteristics that result in the successful or unsuccessful hosting of the Olympics. When adjusted for event size, two themes appear in classifying the successfulness of hosting the Olympics. The first is a resulting relative increase in licensing and sponsorship revenues by large countries. The second theme is relatively higher revenues from ticketing and broadcasting in countries where the first language is English. Combining these factors, a very rough estimation of $2.6 billion of direct revenues is forecast for the 2018 Winter Olympics in Pyeongchang, South Korea

참고문헌 (Reference)

1 류천훈, "평창동계올림픽 개최지의 경제ㆍ사회적 발전 방안에 관한 연구 - 올림픽 개최지역에 대한 기대효과, 신뢰, 참여 등을 중심으로 -" 한국호텔리조트학회 12 (12): 115-134, 2013

2 김현화, "지역산업연관분석을 이용한 제주도 인센티브 관광의 경제적 파급효과 분석-타 지역과의 비교 분석을 중심으로-" 한국관광연구학회 27 (27): 299-314, 2013

3 김한주, "지역산업연관모형을 이용한 부산국제영화제의 경제적 파급효과 분석" (사)한국관광레저학회 19 (19): 7-26, 2007

4 문지효, "지역간 산업연관모형(IRIO)을 이용한 메가스포츠이벤트의 지역경제 파급효과 분석- ‘2010 춘천 월드레저총회 및 경기대회’를 중심으로 -" 한국관광연구학회 26 (26): 5-20, 2012

5 Brown, A., "The sports development impact of the Manchester 2002 Commonwealth Games" 2001

6 Isard, W., "The impact of steel upon the greater New York-Philadelphia industrial region" 289-301, 1953

7 Tien, C., "The economic benefits of mega events : A myth or a reality? A longitudinal study on the Olympic Games" 25 (25): 11-23, 2011

8 이희정, "The Roles of Personality Congruence on City Brand Preference" 한국관광연구학회 26 (26): 93-109, 2012

9 Leontief, W., "Input-Output Analysis: An Appraisal" Princeton University Press 9-52, 1955

10 Késenne, S., "Do we need an economic impact study or a cost-benefit analysis of a sports event?" 5 (5): 133-142, 2005

11 Lee. C. K., "Determinants of inbound tourist expenditures" 23 (23): 527-542, 1996

12 Garin-Munoz, T., "An econometric model for international tourism flows to Spain" 7 (7): 525-529, 2000