IDEAS home Printed from https://ideas.repec.org/a/sae/toueco/v17y2011i3p639-653.html
   My bibliography  Save this article

Measuring the Economic Value and Social Viability of a Cultural Festival as a Tourism Prototype

Author

Listed:
  • Luis César Herrero

    (Departamento de Economía Aplicada, Escuela Universitaria de Estudios Empresariales, Paseo Prado de la Magdalena s/n, 47005 Valladolid, Spain)

  • José ángel Sanz

    (Departamento de Economía Financiera y Contabilidad, Universidad de Valladolid, Spain)

  • María Devesa

    (Departamento de Economía Aplicada, Universidad de Valladolid, Spain)

Abstract

Cities with an important historical cultural heritage are aiming to strengthen their appeal to tourists by organizing numerous complementary activities, such as music festivals, in an attempt to consolidate and enhance their image as cultural sites and diversify the flow of tourism demand. This paper estimates the willingness to pay for a music festival in the city of Santiago de Compostela, Spain, and analyses the results according to the socio-demographic and behavioural characteristics of audiences and tourists. The authors use the contingent valuation method, an appropriate technique for valuing non-market public goods, yet one that has scarcely been employed in the case of cultural goods of a temporary nature, such as a music festival. The findings to emerge may prove useful in understanding the demand for these goods, as well as in measuring the social viability of these tourist projects if willingness to pay is taken as an estimate of derived social benefit. This outcome may prove suitable input for a cost–benefit analysis.

Suggested Citation

  • Luis César Herrero & José ángel Sanz & María Devesa, 2011. "Measuring the Economic Value and Social Viability of a Cultural Festival as a Tourism Prototype," Tourism Economics, , vol. 17(3), pages 639-653, June.
    • Handle: RePEc:sae:toueco:v:17:y:2011:i:3:p:639-653
    DOI: 10.5367/te.2011.0057
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.5367/te.2011.0057
    Download Restriction: no
    File URL: https://libkey.io/10.5367/te.2011.0057?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Victor Ginsburgh & David Throsby, 2006. "Handbook of the economics of art and culture," ULB Institutional Repository 2013/1673, ULB -- Universite Libre de Bruxelles.
    2. V. Santhakumar, 2009. "Entry Fees as an Instrument for Environmental Management: Study of a Wildlife Park in Kerala, India," Tourism Economics, , vol. 15(2), pages 453-466, June.
    3. IIde Rizzo & Ruth Towse (ed.), 2002. "The Economics of Heritage," Books, Edward Elgar Publishing, number 2770.
    4. Peter A. Diamond & Jerry A. Hausman, 1994. "Contingent Valuation: Is Some Number Better than No Number?," Journal of Economic Perspectives, American Economic Association, vol. 8(4), pages 45-64, Fall.
    5. Morrison, William G. & Westi, Edwin G., 1986. "Subsidies for the performing arts: Evidence on voter preference," Journal of Behavioral Economics, Elsevier, vol. 15(3), pages 57-72.
    6. Devesa Fernández, María & Herrero Prieto, Luis César & Sanz Lara, José Ángel, 2009. "Análisis económico de la demanda de un festival cultural/," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 27, pages 139-160, Abril.
    7. Gamini Herath & John Kennedy, 2004. "Estimating the Economic Value of Mount Buffalo National Park with the Travel Cost and Contingent Valuation Models," Tourism Economics, , vol. 10(1), pages 63-78, March.
    8. Juan Carlos Chavez-Comparan & David W. Fischer, 2001. "Economic Valuation of the Benefits of Recreational Fisheries in Manzanillo, Colima, Mexico," Tourism Economics, , vol. 7(4), pages 331-345, December.
    9. Andrea Baez Montenegro & Mario Niklitschek Huaquin & Luis Herrero Prieto, 2009. "The valuation of historical sites: a case study of Valdivia, Chile," Journal of Environmental Planning and Management, Taylor & Francis Journals, vol. 52(1), pages 97-109.
    10. Stephanie A. Snyder & Robert A. Smail, 2009. "Are All-Terrain Vehicle Riders Willing to Pay Trail User Fees to Ride on Public Lands in the USA?," Tourism Economics, , vol. 15(2), pages 437-451, June.
    11. José Sanz & Luis Herrero & Ana Bedate, 2003. "Contingent Valuation and Semiparametric Methods: A Case Study of the National Museum of Sculpture in Valladolid, Spain," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 27(3), pages 241-257, November.
    12. Cameron Trudy Ann & Quiggin John, 1994. "Estimation Using Contingent Valuation Data from a Dichotomous Choice with Follow-Up Questionnaire," Journal of Environmental Economics and Management, Elsevier, vol. 27(3), pages 218-234, November.
    13. Romy Greiner & John Rolfe, 2004. "Estimating Consumer Surplus and Elasticity of Demand of Tourist Visitation to a Region in North Queensland Using Contingent Valuation," Tourism Economics, , vol. 10(3), pages 317-328, September.
    14. Ståle Navrud & Richard C. Ready (ed.), 2002. "Valuing Cultural Heritage," Books, Edward Elgar Publishing, number 1759.
    15. Catherine M. Keske & John B. Loomis, 2008. "Regional Economic Contribution and Net Economic Values of Opening Access to Three Colorado Fourteeners," Tourism Economics, , vol. 14(2), pages 249-262, June.
    16. Ana Bedate & Luis Herrero & José Sanz, 2009. "Economic valuation of a contemporary art museum: correction of hypothetical bias using a certainty question," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 33(3), pages 185-199, August.
    17. Seaman, Bruce A, 2006. "Empirical Studies of Demand for the Performing Arts," Handbook of the Economics of Art and Culture, in: V.A. Ginsburgh & D. Throsby (ed.), Handbook of the Economics of Art and Culture, edition 1, volume 1, chapter 14, pages 415-472, Elsevier.
    18. Ateca Amestoy, Victoria Maria, 2009. "El capital humano como determinante del consumo cultural/," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 27, pages 89-112, Abril.
    19. Clem Tisdell & Clevo Wilson, 2001. "Wildlife-Based Tourism and Increased Support for Nature Conservation Financially and otherwise: Evidence from Sea Turtle Ecotourism at Mon Repos," Tourism Economics, , vol. 7(3), pages 233-249, September.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Chi-Ok Oh & Hyounggon Kim, 2016. "Stakeholder differences in economic benefits of heritage tourism development," Tourism Economics, , vol. 22(3), pages 665-670, June.
    2. Andrea Báez-Montenegro & Ana Bedate Centeno & José à ngel Sanz Lara & Luis Cesar Herrero Prieto, 2016. "Contingent valuation and motivation analysis of tourist routes," Tourism Economics, , vol. 22(3), pages 558-571, June.
    3. Jonathan Daniel Gómez-Zapata & Luis César Herrero-Prieto & Beatriz Rodríguez-Prado, 2021. "Does music soothe the soul? Evaluating the impact of a music education programme in Medellin, Colombia," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 45(1), pages 63-104, March.
    4. Jen D Snowball & Geoff G Antrobus, 2021. "Festival value in multicultural contexts: City festivals in South Africa," Tourism Economics, , vol. 27(6), pages 1256-1275, September.
    5. Halkos, George, 2012. "The use of contingent valuation in assessing marine and coastal ecosystems’ water quality: A review," MPRA Paper 42183, University Library of Munich, Germany.
    6. John Thompson & John Day, 2020. "Understanding the impact and value of temporary public art sculpture trails," Local Economy, London South Bank University, vol. 35(3), pages 186-208, May.
    7. Qiu, Richard T.R. & Park, Jinah & Li, ShiNa & Song, Haiyan, 2020. "Social costs of tourism during the COVID-19 pandemic," Annals of Tourism Research, Elsevier, vol. 84(C).
    8. Luis César Herrero-Prieto & Mafalda Gómez-Vega, 2017. "Cultural resources as a factor in cultural tourism attraction," Tourism Economics, , vol. 23(2), pages 260-280, March.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Eva Vicente & Pablo de Frutos, 2011. "Application of the travel cost method to estimate the economic value of cultural goods: Blockbuster art exhibitions," Hacienda Pública Española / Review of Public Economics, IEF, vol. 196(1), pages 37-63, january.
    2. Bart Neuts, 2020. "Mixed pricing strategies in museums: Examining the potential of voluntary contributions for capturing consumer surplus," Tourism Economics, , vol. 26(1), pages 115-136, February.
    3. Tiziana Cuccia, 2011. "Contingent Valuation," Chapters, in: Ruth Towse (ed.), A Handbook of Cultural Economics, Second Edition, chapter 13, Edward Elgar Publishing.
    4. Douglas S. Noonan & Ilde Rizzo, 2017. "Economics of cultural tourism: issues and perspectives," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 41(2), pages 95-107, May.
    5. Michael Getzner, 2020. "Spatially Disaggregated Cultural Consumption: Empirical Evidence of Cultural Sustainability from Austria," Sustainability, MDPI, vol. 12(23), pages 1-19, December.
    6. Armbrecht, John, 2014. "Use value of cultural experiences: A comparison of contingent valuation and travel cost," Tourism Management, Elsevier, vol. 42(C), pages 141-148.
    7. Wiśniewska Aleksandra, 2019. "Quality attributes in the non-market stated-preference based valuation of cultural goods," Central European Economic Journal, Sciendo, vol. 6(53), pages 132-150, January.
    8. León, Carmelo J. & de León, Javier & Araña, Jorge E. & González, Matías M., 2015. "Tourists' preferences for congestion, residents' welfare and the ecosystems in a national park," Ecological Economics, Elsevier, vol. 118(C), pages 21-29.
    9. Ana Bedate & Luis Herrero & José Sanz, 2009. "Economic valuation of a contemporary art museum: correction of hypothetical bias using a certainty question," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 33(3), pages 185-199, August.
    10. Jagoda Adamus, 2023. "How Much Are Public Spaces Worth? Non-Market Valuation Methods in Valuing Public Spaces," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 2, pages 66-89.
    11. Cabane, Charlotte & Hille, Adrian & Lechner, Michael, 2015. "Mozart or Pelé? The effects of teenagers’ participation in music and sports," Economics Working Paper Series 1509, University of St. Gallen, School of Economics and Political Science.
    12. Richard T. Carson & W. Michael Hanemann, & Raymond J. Kopp & Jon A. Krosnick & Robert C. Mitchell & Stanley Presser & Paul A. Rudd & V. Kerry Smith & Michael Conaway & Kerry Martin, 1997. "Temporal Reliability of Estimates from Contingent Valuation," Land Economics, University of Wisconsin Press, vol. 73(2), pages 151-163.
    13. Rodríguez, Elsa Mirta M. & Lacaze, María Victoria & Lupín, Beatriz, 2007. "Willingness to pay for organic food in Argentina: evidence from a consumer survey," Nülan. Deposited Documents 1300, Universidad Nacional de Mar del Plata, Facultad de Ciencias Económicas y Sociales, Centro de Documentación.
    14. Ilde Rizzo & Anna Mignosa (ed.), 2013. "Handbook on the Economics of Cultural Heritage," Books, Edward Elgar Publishing, number 14326.
    15. Bruno S. Frey & Paolo Pamini & Lasse Steiner, 2011. "What Determines The World Heritage List? An Econometric Analysis," CREMA Working Paper Series 2011-01, Center for Research in Economics, Management and the Arts (CREMA).
    16. Richard T. Carson & Miko_aj Czajkowski, 2014. "The discrete choice experiment approach to environmental contingent valuation," Chapters, in: Stephane Hess & Andrew Daly (ed.), Handbook of Choice Modelling, chapter 9, pages 202-235, Edward Elgar Publishing.
    17. Loomis, John B. & Ekstrand, Earl, 1997. "Economic Benefits Of Critical Habitat For The Mexican Spotted Owl: A Scope Test Using A Multiple-Bounded Contingent Valuation Survey," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 22(2), pages 1-11, December.
    18. Avtonomov, Yu., 2012. "Elasticity of Demand for Performing Art at Price and Income: Basic Results of Empiric Research," Journal of the New Economic Association, New Economic Association, vol. 14(2), pages 135-138.
    19. Bruno S. Frey & Lasse Steiner, 2013. "World Heritage List," Chapters, in: Ilde Rizzo & Anna Mignosa (ed.), Handbook on the Economics of Cultural Heritage, chapter 8, pages i-i, Edward Elgar Publishing.
    20. Dani Aoun, 2015. "Who pays more to preserve a natural reserve, visitors or locals? A confidence analysis of a contingent valuation application," Environmental Economics and Policy Studies, Springer;Society for Environmental Economics and Policy Studies - SEEPS, vol. 17(4), pages 471-486, October.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:toueco:v:17:y:2011:i:3:p:639-653. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.