What exactly does economic impact mean? I'm under the impression it's like , hm, the influence someone might have on the economy--like, if it's Yu-Na:
*her successes generate interest and income for Korea's skating program, increased media devoted to FS, more skating-related events
*her endorsements generate sales, possibly leading to more jobs/increased wages for the companies, as well as raising their stock value
*the sales of the products she endorses means there's spending, money is being circulated, better economy?
Someone please explain?
It's not just influence, it's the estimated amount of ACTUAL CASH that enters the Korean economy that comes from something related to Yu-na.
Some of the examples you pointed are part of this.
You also have to consider...
** By investing in the juniors program, she funding ice rink time, choreographers, coaches and other people that support the Korean figure skating industry. In turn those folks now have money to buy things like Zamboni, music and the other stuff the need spurring businesses that supply those things.
** Her media appearances. Given her high-profile the television stations probably made more money in advertising because they could persuade advertisers with greater viewership when she's on a given program. (Such as her 2009 Nation's Hope special last year.)
** SNSD, IU and Brown Eyed Girls record sales might have been connected to their songs being featured on Festa on Ice.
** Festa on Ice was likely a boost for the tourism industry with people coming from all over Korea (maybe Asia) to stay in Seoul's hotels and restaurants. They also bought plane, train tickets and bought gasoline.
** Of course the obvious, when Yuna has an ice show that's a whole bunch of jobs that wouldn't be there otherwise.
Economic theory states that for every dollar (or I guess in this case 1,000 won) that is spent, it gets turn over seven times. Let's take the Festa on Ice show, for example. The people who get paid to work on the show in turn spend money at restaurants and retailers. The workers who work at those restaurants and retailers get paid from the business and then spend the money elsewhere. You get the point.
To give some perspective on how much $5 billion of economic impact from one person is...
** The Vancouver Olympics's estimated economic impact was $10 billion.
** The Super Bowl, the biggest football game of the year in the US, is expected to bring in about $600 million to Dallas, the 2011 host site. That's a record amount.
