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2019/03/19

Press Release

Survey reveals PACIFICO Yokohama's contribution to the local economy
The economic ripple effect of hosting events was approx. 231 billion yen in 2017

PACIFICO Yokohama, one of the largest MICE complexes in Japan*1, conducted a survey on the economic ripple effects of events held there in fiscal 2017 to measure their contribution to the local economy. The survey was conducted in order to measure and visualize the value provided by the presence of PACIFICO Yokohama and the opportunity it gives the citizens of Yokohama to participate in the events industry.

Consumption and business-related spending by organizers, attendees, exhibitors, etc. hosting MICE events (meetings, incentives, conferences and exhibitions) produces significant economic ripple effects in the area around the venue. In addition, because of the long stays and the wide range of economic and consumption activities connected with meetings, accommodations, eating, drinking, and sightseeing, such events are said to have a greater economic benefit than general tourism.
Looking forward to the further expansion of its economic impact with the addition of the new "PACIFICO Yokohama North" facility scheduled to open in spring of 2020, PACIFICO Yokohama will play a role not only as part of the industrial infrastructure driving the regional economy, but also in providing social infrastructure that improves citizens' quality of life.

[Regional economy]
1. Economic ripple effect from "FY 2017 Event Hosting"
The economic ripple effect from hosting MICE events in FY 2017 was approximately 231 billion yen, an increase of 12% over the previous survey

Because the analysis was performed using the latest input-output table (confirmed data) from 2011, the economic ripple effect within the city was approx. 86 billion yen, down 2% from the previous survey due to factors such as the impact of the Great East Japan Earthquake and a decrease in occupancy by event participants due to high occupancy at hotels in the city.
Nation-wide Kanagawa Prefecture Yokohama
1. Direct effects
Figures in ( ) are from the 2012 survey
Approx. 106 billion yen
(Approx. 94 billion yen)
Approx. 65 billion yen
(Approx. 61 billion yen)
Approx. 60 billion yen
(Approx. 58 billion yen)
2. Economic ripple effect
Figures in ( ) are from the 2012 survey
Approx. 231 billion yen
(Approx. 207 billion yen)
Approx. 95 billion yen
(Approx. 92 billion yen)
Approx. 86 billion yen
(Approx. 87 billion yen)
3. Employment effects
Employer induced income
Approx. 20,000 people
Approx. 61 billion yen
Approx. 9,300 people
Approx. 27 billion yen
Approx. 27 billion yen
Approx. 24 billion yen
4. Induced tax revenue Approx. 27 billion yen
National tax, local tax total
Approx. 2.2 billion yen
Prefectural tax, business tax, other indirect taxes
Approx. 1.3 billion yen
Mainly municipal tax

Main causes of increase:
1. Increase in the number of people surveyed compared to the previous survey (FY 2012) (from 3.38 million to 3.93 million people)
2. Increase in cost per visitor for transportation to the city, etc., due to an increase in the number of visitors from distant locations 
 
   

[Effect on the lives of Yokohama residents]
2. The "value of PACIFICO Yokohama" as experienced by the citizens of Yokohama 
The value experienced by Yokohama citizens was about 4.2 billion yen, an increase of 20% over the previous survey (about 3.5 billion yen)

We measured the value to Yokohama citizens of being able to participate in various MICE events frequently, at low cost (low transportation costs, etc.), without spending the time to travel outside their own city, thanks to the presence of PACIFICO Yokohama.

"Value provided" = the value that citizens experience through participation in MICE events - the cost of visiting (transportation costs + time value)

   



Press Release

Survey reveals PACIFICO Yokohama's contribution to the local economy The economic ripple effect of hosting events was approx. 231 billion yen in 2017


*1 About MICE
MICE is a generic term for business events and an acronym which stands for Meeting (corporate meetings), Incentive Travel (incentive, training travels organized by companies), Convention (general assemblies, academic conferences organized by international organizations and academic societies) and Exhibition / Event (exhibitions, trade shows, and events).