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http://dx.doi.org/10.5392/JKCA.2021.21.07.181

Estimating Willingness to Pay for Local Festival and Place Attachment in the COVID-19 era: A Case Study of Daegu Chimac Festival  

Kim, Ju-ho (중앙대학교 일반대학원 문화예술경영학과)
Kwon, Hyeog-in (중앙대학교 일반대학원 문화예술경영학과)
Publication Information
The Journal of the Korea Contents Association / v.21, no.7, 2021 , pp. 181-193 More about this Journal
Abstract
Due to the spread of COVID-19, the domestic market was inevitable to face the crisis of tourism industry. Accordingly, most of local festivals decided to cancel or postpone, and have been in difficult situation. In addition, people also have experienced the thrist of cultural activities and tours. However, this situation can also be opportunity to find the clues for activating local festivals in the post-COVID-19 era with estimating the preservation value and deriving the determinants for it. Therefore, this study economically assessed the value of the local festival, Chimac Festival in Daegu, under the hypothetical financial crisis situation for COVID-19. Consequently, monthly income, age and place dependence was found to be influential for Daegu and nearby area citizens to have willingness to pay for the Chimac Festival in Daegu. The result shows that respondents are willing to pay 16,909 on truncated average. Thus, total value of Chimac Festival was estimated as 9.376 billion won.
Keywords
Local Festival; Contingent Valuation Method; Place Attachment; Pandemic; COVID-19;
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Times Cited By KSCI : 1  (Citation Analysis)
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