Exploring the Performance of International Airports in the Pre- and Post-COVID-19 Era: Evidence from Incheon International Airport

초록

Considering the socio-economic importance of Incheon International Airport, this study explored the changes in its aeronautical and non-aeronautical efficiency between 2001 and 2021. The study was conducted to measure and observe the changes in efficiency during the pre- and post-pandemic era of COVID-19. We employed a two-stage analytical approach to obtain the results using a set of desirable and undesirable variables. For the first stage, we employed a novel network data envelopment analysis-window analysis model to find the efficiency measures; for the second stage, we applied the Tobit regression analysis to observe the impact of some control variables on efficiency levels. The empirical results from the efficiency analysis stage revealed that, although the pandemic negatively affected the efficiency of this airport, the gain from appropriate strategies mitigated the excessive efficiency decline. Moreover, aeronautical activities showed better efficiency than non-aeronautical activities during the study period. In addition, further investigation of the second-stage analysis implied that an outbreak of pandemic diseases such as COVID-19 would dramatically impact international hubs such as Incheon International Airport; however, focusing on the import and export activities, in addition to increasing the connectivity with other airports, would improve the efficiency.

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