A Review of Cogent Reflection on the Economic Impact Assessment of Conferences – MICE Tourism
1 Hospitality, Tourism and Culinary Arts, Taylor’s University, 47500 Subang Jaya, Selangor, Malaysia
2 International Business School, Universiti Teknologi Malaysia, 54100 Kuala Lumpur, Malaysia
MICE tourism has grown into an important economic sector in many places, and it is quite easy to understand the relevancy of estimating the economic impact of business tourists on the local and regional economies. Several industrial and academic researches has mentioned many methods for economic impact studies (direct, indirect and induced impacts) of the conference - MICE tourism related events. Of these, the input-output (I-O) model and general equilibrium models (REMI and REM II) are widely used for the economic impact assessments. The current paper will review economic impact studies in the c conference - MICE tourism related events and then discusses the issues related to the I-O model and general equilibrium models framework
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