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

Author

Listed:
  • 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)

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.

Suggested Citation

  • Prabha Prayaga & John Rolfe & Jack Sinden, 2006. "A Travel Cost Analysis of the Value of Special Events: Gemfest in Central Queensland," Tourism Economics, , vol. 12(3), pages 403-420, September.
    • Handle: RePEc:sae:toueco:v:12:y:2006:i:3:p:403-420
    DOI: 10.5367/000000006778493592
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    References listed on IDEAS

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    3. Jones, Thomas E. & Yang, Yang & Yamamoto, Kiyotatsu, 2017. "Assessing the recreational value of world heritage site inscription: A longitudinal travel cost analysis of Mount Fuji climbers," Tourism Management, Elsevier, vol. 60(C), pages 67-78.
    4. Renuka Mahadevan, 2017. "Going beyond the economic impact of a regional folk festival for tourism," Tourism Economics, , vol. 23(4), pages 744-755, June.
    5. Rolfe, John, 2019. "Simple economic frameworks to evaluate public investments in sporting events in regional Australia," Economic Analysis and Policy, Elsevier, vol. 63(C), pages 35-43.
    6. Marina Farr & Natalie Stoeckl & Rabiul Alam Beg, 2011. "The efficiency of the Environmental Management Charge in the Cairns management area of the Great Barrier Reef Marine Park," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 55(3), pages 322-341, July.
    7. Torre, Andrew & Scarborough, Helen, 2017. "Reconsidering the estimation of the economic impact of cultural tourism," Tourism Management, Elsevier, vol. 59(C), pages 621-629.
    8. Prayaga, Prabha, 2017. "Estimating the value of beach recreation for locals in the Great Barrier Reef Marine Park, Australia," Economic Analysis and Policy, Elsevier, vol. 53(C), pages 9-18.
    9. K. Willis & J. Snowball & C. Wymer & José Grisolía, 2012. "A count data travel cost model of theatre demand using aggregate theatre booking data," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 36(2), pages 91-112, May.
    10. Doshi, Amar & Pascoe, Sean, 2013. "Investigating the effects of sample heterogeneity on the travel cost model for coral diving in Southeast Asia," 2013 Conference (57th), February 5-8, 2013, Sydney, Australia 152146, Australian Agricultural and Resource Economics Society.
    11. Farr, Marina & Stoeckl, Natalie & Sutton, Stephen, 2014. "Recreational fishing and boating: Are the determinants the same?," Marine Policy, Elsevier, vol. 47(C), pages 126-137.
    12. Sang-Hyun Han & Woo-Hee Byun & Timothy Jeonglyeol Lee & Choong-Ki Lee, 2013. "Research Note: Travel Time as a Proxy for Travel Cost in a Heritage Tourist Destination," Tourism Economics, , vol. 19(6), pages 1467-1474, December.
    13. Farr, Marina & Stoeckl, Natalie, 2018. "Overoptimism and the undervaluation of ecosystem services: A case-study of recreational fishing in Townsville, adjacent to the Great Barrier Reef," Ecosystem Services, Elsevier, vol. 31(PC), pages 433-444.
    14. Averil Cook, 2008. "Recreation Value of a New Long-Distance Walking Track," Tourism Economics, , vol. 14(2), pages 377-391, June.
    15. Star, Megan & Rolfe, John & Brown, Julia, 2020. "From farm to fork: Is food tourism a sustainable form of economic development?," Economic Analysis and Policy, Elsevier, vol. 66(C), pages 325-334.
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