A Travel Cost Analysis of the Value of Special Events: Gemfest in Central Queensland

Prabha Prayaga, John Rolfe and Jack Sinden
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Prabha Prayaga: Faculty of Business and Law, Central Queensland University, Rockhampton, Queensland 4702, Australia
John Rolfe: Faculty of Business and Law, Central Queensland University, Rockhampton, Queensland 4702, Australia
Jack Sinden: Agricultural and Resource Economics, School of Economics, University of New England, Armidale, NSW 2351, Australia

Tourism Economics, 2006, vol. 12, issue 3, 403-420

Abstract: Special events play an important part in tourism and recreation choices in Australia, and many receive funding from various levels of government. However, the economic case for funding special events often focuses on estimates of expenditure, employment and indirect impacts rather than estimates of economic benefit or consumer surplus. The study discusses the application of the travel cost method for estimating consumer surplus associated with a special event. The event studied is the annual four-day ‘Gemfest’ in the sapphire fields of Central Queensland. Surveys were conducted in 1998 and 2002, and the derivations of the appropriate models, welfare calculations and comparisons over time are outlined.

Keywords: travel cost method; special events; consumer surplus; Australia (search for similar items in EconPapers)
Date: 2006
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Citations: View citations in EconPapers (17)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:toueco:v:12:y:2006:i:3:p:403-420

DOI: 10.5367/000000006778493592

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