내국인 해외 여행과 외국인 국내 여행이 우리나라 지역 경제성장에 미치는 영향 분석

The Impact of Outbound Travel by Koreans and Inbound Travel by Foreigners on Regional Economic Growth in Korea

Purpose – This study investigated the impact of outbound tourism by domestic residents and inbound tourism by foreign visitors on economic growth of regions, excluding the Seoul Metropolitan Area and major metropolitan cities. This is because the industrial structure of Seoul Metropolitan Area and major metropolitical cities is different from other areas. Design/Methodology/Approach – The analysis was conducted using annual data from 1990 to 2023, an Autoregressive Distributed Lag (ARDL) model, and the Tourism-Led Growth Hypothesis framework. Findings – Outbound tourism by domestic residents had a negative effect on regional economic growth in terms of the long- and short-runs. Inbound tourism by foreign visitors did not have a significant effect on regional economic growth in either the long- or short-runs. Based on these findings, we can derive policy implications for Korea’s tourism and local economic growth. Research Implications – Considering that domestic outbound tourism negatively impacts local economic growth, a more conservative approach is needed to boost domestic consumption: for example, designating temporary public holidays. A policy support is also required to promote domestic tourism as an alternative to outbound travel for Koreans. Finally, developing tourism products and policies to attract foreign tourists to local regions is also required to promote the regional economic growth.