Abstract
The purpose of this study is to analyze the market size of inbound food tourism and the economic effect on the industry quantitatively. Food plays a crucial role in developing the identity of a region or a nation and is an important element of constituting tourists’ experience. It is the best and easiest way for foreign tourists to directly experience the truly local culture of the destination. Also, food is no longer a secondary or partial motivation, but the main motivation for choosing a travel destination. In fact, the number of foreign tourists visiting Korea to experience Korean food is on the rise. In 2019, the number of foreign food tourists was estimated about 4,168 thousand, the expenditure per person was estimated about US$ 1,204. Thus, total expenditures were estimated to be US$ 5,563 million(approximately 6,600 billion won). This study analyzes the economic impact of food tourism using an input-output model with 2019 input-output tables from the Bank of Korea. Based on the result of analysis, food tourism is an industry which has high value added, and it was found to greatly contribute to tax revenue compared to other industries. Also, the production inducement effect of the expenditure of food tourists on the whole industry was analyzed about 12,169.3 billion won. The value added inducement effect and the indirect tax inducement were estimated about 5,351.4 billion won and 555.3 billion won, respectively.
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