Forest therapy is expected to contribute not only to human health, but also to invigorating local communities where it is provided. However, while there is much research on its physiological effects, there is no research on the economic ripple effect of forest-therapy projects. The purpose of this study is to estimate the economic ripple effect of a forest therapy program, using the “Shinshu Shinano-machi Healing Forest” project as a case study. Adopting the Shinano-town Input-Output Table, which we created based on the Nagano Prefecture 2011 Input-Output Table, we estimated the economic ripple effect of the project from 2011 to 2015. We used tourism statistics and data obtained from interview surveys with businesses, such as inns and three customer-service oriented companies, which make use of the forest-therapy program. Estimation results are as follows: the production induction effect of the economic ripple was 309.72 million yen, the added value induced effect was 159.37 million yen, the tax revenue effect was 2.82 million yen, and the ratio of production induction coefficient reached 1.21. Furthermore, estimation results show that the lodging sector produces a large economic ripple effect within the project. We believe that the economic ripple effect of the project can be increased by inviting customer-service oriented companies to participate.

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