Journal of the Korean Society for Aviation and Aeronautics (한국항공운항학회지)

The Korean Society for Aviation and Aeronautics (한국항공운항학회)
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A Study on the Relationship between Economic Change and Air Passenger Demand: Focus on Incheon International Airport

경제환경 변화와 항공여객 수요 간의 관계 분석: 인천국제공항을 중심으로

  • 김석 (인천국제공항공사 공항산업기술연구원) ;
  • 신태진 (인천국제공항공사 공항산업기술연구원)
  • Received : 2019.10.17
  • Accepted : 2019.12.31
  • Published : 2019.12.31
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Abstract

The purpose of this study is to analyze the impact of macroeconomic variables on air passenger demand and provide useful information to airport managers and policymakers. Therefore, using the quarterly macroeconomic indicators from 2002 to 2017, the relationship with air passenger demand was demonstrated by multiple regression analysis. In the previous studies, they used GDP, Korea Treasury Bond, KOSPI index, USD/KRW Exchange Rate, and WTI Crude Oil Price variables. In this study, we used the Coincident Composite Index, Employment Rate, Consumer Sentiment Index, and Private Consumption Rate used as additional variables. It has confirmed that if the consumption of research results expands or the economic environment is right, it will affect the increase in international passengers. In other words, it confirmed that the overall economic situation acts as the main factor determining air passenger demand. It confirmed that the economic environment at the past has a significant impact on air passenger demand.

Keywords

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