Profitability of Virginia's Agritourism Industry: A Regression Analysis

Christopher Lucha, Gustavo Ferreira, Martha Walker and Gordon Groover

Agricultural and Resource Economics Review, 2016, vol. 45, issue 1, 173-207

Abstract: Virginia's growing agritourism industry provides additional income to farms and mitigates risk. This study empirically analyzes the effect of demographic, operational, and financial factors on the profitability of agritourism operations using a primary data set collected from a survey of more than 500 agritourism operations. Results show that greater profitability is associated with operators who are motivated by additional income and have more education, larger operations with a greater percentage of income from agritourism, and visitors who spent more on average. Characteristics having a negative effect on profitability are wineries, locations farther from interstates, and difficulty accessing capital.

Date: 2016
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