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Profitability of Virginia's Agritourism Industry: A Regression Analysis

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  • Lucha, Christopher
  • Ferreira, Gustavo
  • Walker, Martha
  • Groover, Gordon

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.

Suggested Citation

  • Lucha, Christopher & Ferreira, Gustavo & Walker, Martha & Groover, Gordon, 2016. "Profitability of Virginia's Agritourism Industry: A Regression Analysis," Agricultural and Resource Economics Review, Cambridge University Press, vol. 45(1), pages 173-207, April.
    • Handle: RePEc:cup:agrerw:v:45:y:2016:i:01:p:173-207_00
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    Citations

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    Cited by:

    1. Sgroi, Filippo & Donia, Enrica & Mineo, Angelo Marcello, 2018. "Agritourism and local development: A methodology for assessing the role of public contributions in the creation of competitive advantage," Land Use Policy, Elsevier, vol. 77(C), pages 676-682.
    2. Kumar Bhatta & Yasuo Ohe, 2020. "A Review of Quantitative Studies in Agritourism: The Implications for Developing Countries," Tourism and Hospitality, MDPI, vol. 1(1), pages 1-18, October.
    3. Goran Karanovic, 2023. "Exploring the Intrinsic Factors Influencing Return on Assets: A Case Study of the Hotel Industry in Selected EU Countries," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 16(1), pages 54-61, October.
    4. Schmidt, Claudia & Tian, Zheng & Goetz, Stephan J. & Chase, Lisa, 2022. "Drivers of Agritourism and Direct Sales Clusters in the United States," 2022 Annual Meeting, July 31-August 2, Anaheim, California 322207, Agricultural and Applied Economics Association.
    5. Michał Roman & Piotr Grudzień, 2021. "The Essence of Agritourism and Its Profitability during the Coronavirus (COVID-19) Pandemic," Agriculture, MDPI, vol. 11(5), pages 1-25, May.
    6. Hardesty, Shermain, 2018. "Fostering Agricultural Sustainability Through Agritourism," 166th Seminar, August 30-31, 2018, Galway, West of Ireland 276207, European Association of Agricultural Economists.
    7. Chadley R. Hollas & Lisa Chase & David Conner & Lori Dickes & R. David Lamie & Claudia Schmidt & Doolarie Singh-Knights & Lindsay Quella, 2021. "Factors Related to Profitability of Agritourism in the United States: Results from a National Survey of Operators," Sustainability, MDPI, vol. 13(23), pages 1-17, December.

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