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Abstract
The paper examines the economic effects of tourism spending within the framework of a regional Input-Output table augmented with a tourism satellite account. Two case studies from the Welsh economy illustrate the use of Input-Output tables to analyse the effects of tourism spending. The cases examined are the 2000 Brecon Jazz Festival, and the 1999 Rugby World Cup. In each case the effects of tourism spending are analysed in the context of varying regional economic conditions and constraints. Conclusions highlight the value of tourism satellite accounts as an aid to economic and policy planning at a time when tourism-led initiatives gain importance in regional economic development strategies.
Acknowledgements
The tourism and impact planning model on which part of the analysis in this paper is based was the result of a joint research project between Cardiff Business School, and Bournemouth University for the Wales Tourism Board. The authors acknowledge the assistance of Professors John Fletcher and Stephen Wanhill in this project.
Notes
1 It should be noted that a complete accounting of tourism impact would include a measure of business capital investment, which was tourism dependent, plus government expenditure in support of tourism. Due to the extensive problems involved in modelling such investment, the approach adopted here includes only consumption demand for the given period.