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Which factors affect the willingness of tourists to pay for renewable energy?

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  • Kostakis, I.
  • Sardianou, E.

Abstract

This study presents insights into the determinants of tourists’ intention to pay a premium for accommodation in a hotel with renewable energy sources. The empirical analysis is based on the estimation of binary logistic regression models. Four subsets of independent variables were used in this empirical analysis, namely: (i) demographic factors, (ii) economic variables, (iii) past experience with regard to renewable energy sources, and (iv) variables regarding environmental awareness and information dissemination. Empirical results suggest that middle-aged people are probably more willing to pay for their stay in a hotel using renewable energy. In general, men are more likely than women to pay extra money for accommodation in a “green” hotel. However, the results suggest that marital status and educational level are not statistically significant factors in the willingness to pay more. Rather, environmentally-conscious and adequately informed tourists are more willing to pay for renewable energy than others. Our analysis is focused on intention because we expect that those people willing to pay for staying in a green hotel are a potentially relevant market segment for developing sustainable tourism in Greece.

Suggested Citation

  • Kostakis, I. & Sardianou, E., 2012. "Which factors affect the willingness of tourists to pay for renewable energy?," Renewable Energy, Elsevier, vol. 38(1), pages 169-172.
    • Handle: RePEc:eee:renene:v:38:y:2012:i:1:p:169-172
    DOI: 10.1016/j.renene.2011.07.022
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    References listed on IDEAS

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    Keywords

    Tourists; WTP; Renewable energy;
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