economic ripple effect
Refers to the indirect economic impact that spreads from an initial investment, event, or policy through related industries and consumption.
The economic ripple effect from the construction of the new airport is estimated at several hundred billion yen.
Measuring the economic ripple effect of a large-scale event is difficult.
経済効果 is a broader term for any economic effect, while 経済波及効果 specifically emphasizes the spreading, indirect impact through supply chains and consumption.
Compound of 経済 (economy), 波及 (spread, ripple), and 効果 (effect). The term is a direct translation of the English 'economic ripple effect' and is used primarily in economic analysis and policy discussions.