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Using Willingness to Travel to Estimate the Monetary Value of Intangible Benefits Derived from Active Sport Event Tourism

John Whitehead and Pamela Wicker

No 17-03, Working Papers from Department of Economics, Appalachian State University

Abstract: This study examines the monetary value of intangible benefits to participants of an active sport tourism event. Willingness to travel greater distances for future events is assessed and converted into willingness to pay estimates using travel costs. Using survey data from the 2014 and 2015 Blood Sweat Gears bike race, the intended visitation models show that changes in travel cost have a significant negative effect. Willingness to pay to revisit the event was between 10% and 30% of the registration fee. The likelihood of return visit decreases as travel costs increase, indicating that the willingness to pay estimates can be considered internally valid. The willingness to pay estimates stemming from two years of data collection are stable, suggesting that they are also temporally reliable. This study demonstrated the feasibility of using stated preference intention to revisit questions to assign a monetary value to intangible benefits of active sport tourists. Key Words: active sport tourism; cycling; intention to revisit; monetary valuation; non-market good; temporal reliability; willingness to pay

Date: 2017
New Economics Papers: this item is included in nep-dcm, nep-spo and nep-tur
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