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Health, Wellness and Tourism: healthy tourists, healthy business ...

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o The macro <strong>and</strong> micro environment remained the same during the research<br />

timeframe<br />

o Examined development projects completed <strong>and</strong> operations started at nearly the<br />

same time<br />

o The studied project investment value was over 15% of total project investment<br />

value, which allowed for estimation of national impacts.<br />

• 2009 research study<br />

o Scope: 10 tourism projects, out of which 4 financially supported by Széchenyi<br />

Program <strong>and</strong> 6 projects financially supported by EU Regional Operational<br />

Program (ROP).<br />

o Research timeframe: 8-year timeframe with different project start <strong>and</strong> end<br />

dates (2004-2008).<br />

o The 2008-2009 economic crisis impacted 6 EU supported projects’ first<br />

operational data.<br />

Major findings<br />

This section will present the major findings of the two studies. First the focus will be on the<br />

investment multiplier, than on the operational impacts of health tourism project (from<br />

employment impacts, through revenue impacts dem<strong>and</strong> indicators <strong>and</strong> taxation).<br />

Investment multiplier<br />

Both studies focused on analyzing the impacts of the investments in generating further<br />

investments <strong>and</strong> calculated the investment multipliers for the projects in focus.<br />

2004 research study major findings:<br />

• <strong>Tourism</strong> investment multiplier value of 2,7 based on indirect <strong>and</strong> induced investments<br />

– 11 projects with 77,8M Euro (21bn HUF) investment generated additional 118,5M<br />

Euro (32bn HUF) investment, altogether 196,3M Euro (53bn HUF) investment over 5<br />

year period.<br />

• 100 HUF government financial support of health tourism development generated 550-<br />

500 HUF private capital investments in tourism over the 5 years.<br />

• The induced <strong>and</strong> indirect investments were primarily in accommodation development<br />

(e.g. wellness hotel near the spas, pensions) <strong>and</strong> spa/thermal bath developments<br />

further enhancing facilities <strong>and</strong> services.<br />

2004 research study - investment multiplier<br />

(data in 1000 HUF)<br />

22 620 000 ; 43%<br />

9 700 000 ; 18%<br />

Actual investment value (2001-2003)<br />

Indirect Investment value (2001-2003)<br />

Induced investment value (2004-2006)<br />

(Source: Research study, 2004)<br />

20 935 016 ; 39%

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