This study aims to measure the impact pension houses play on the local economy. For this purpose, we built a model of impact analysis for pension houses and applied it to a singular case. In this way we were able to estimate its real impacts. Specifically, we applied an Input-Output analysis to the case of Yangpyeong as a means of measuring impacts in terms of production, employment, and income. The results of this analysis show that the production multiplier of pension houses in Yangpyeong is a little lower than the average among all local industries. These results also represent the fact that tourist spending at pension houses is more efficient in creating jobs and incomes than construction spending is. Therefore, the municipality should improve the linkage between pension houses and local industries and should make efforts to ensure the higher operation rate of existing pension houses rather than construct new houses.
This study aims to measure the impact pension houses play on the local economy. For this purpose, we built a model of impact analysis for pension houses and applied it to a singular case. In this way we were able to estimate its real impacts. Specifically, we applied an Input-Output analysis to the case of Yangpyeong as a means of measuring impacts in terms of production, employment, and income. The results of this analysis show that the production multiplier of pension houses in Yangpyeong is a little lower than the average among all local industries. These results also represent the fact that tourist spending at pension houses is more efficient in creating jobs and incomes than construction spending is. Therefore, the municipality should improve the linkage between pension houses and local industries and should make efforts to ensure the higher operation rate of existing pension houses rather than construct new houses.
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